Soltec CAP secures €2.5M debt line from top shareholder DVCP
Soltec CAP, a subsidiary of Soltec Power, has signed a financing agreement of up to €2.5 million with its principal shareholder, DVCP I RAIF SICAV SCA — DVCP Renewable. The company disclosed the deal to Spain's Comisión Nacional del Mercado de Valores (CNMV).
The loan will be paid in three tranches — €750,000 two business days after signing, €1,000,000 on September 30, 2026, and €750,000 on October 31, 2026. It carries a fixed annual interest rate of 10% and no collateral or personal guarantees.
Soltec said the funds will cover development costs for the subsidiary's solar asset portfolio and its dependent companies. Repayment is due in a single payment at maturity, set for the later of July 5, 2028, or the full repayment of existing financing with Pino Investments, SCA (Incus).
Incus, the main creditor across the group's energy perimeter, authorised the deal and waived certain contractual covenants. In exchange, proceeds from the sale of the Pedra and Araxá projects will be applied first to repaying this new contract.
The board approved the agreement following a report from the audit committee, without the participation of proprietary directors linked to the lender. The new obligations rank subordinate to the debt held with Incus.
The related-party loan shows Soltec leaning on its largest shareholder to keep its solar pipeline moving while managing a layered debt structure — a sign of the financing pressures facing renewables developers.
Image credit: peretzp
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