“This acquisition reinforces Velto’s objective of expanding its presence in the Iberian Peninsula—covering more than 80% of the national territory,” said Velto CEO Lucas de Haro. Spain continues to be a leader in the European PV industry, particularly for the utility-scale sector. The same report notes that utility-scale projects are an increasingly important part of the Spanish solar sector, with around half of the solar installations in Spain in this sector. Indeed, trade body Asociación de Empresas de Energías Renovables (APPA Renovables) reported that, for the third year in a row, installations of self-consumption systems have fallen in Spain, suggesting a shift away from small-scale solar to the utility-scale sector. The company also inaugurated Europe’s largest floating PV (FPV) project in June, in tandem with Q Energy, and acquired the 9MW La Gineste solar farm in France from the same company.