Greenvolt reached an agreement to acquire a 37.3% stake in Solarelit, with the possibility of reinforcing its capital position in the Milan-based company. With this operation, the European leader in the promotion of renewable energy projects takes another step in its expansion strategy in the distributed generation business with the arrival in the important Italian market.
Under the agreement now reached, Greenvolt, through Greenvolt Next Holding, will control more than a third of the capital of the Italian company in an operation that values Solarelit powered by Greenvolt at €33.5 million. The contract also provides the option to increase the stake in the company's capital.
João Manso Neto, CEO of Greenvolt, states that "the Italian market offers us enormous growth opportunities. The acquisition of this significant share of Solarelit we will allow us to make our experience in the distributed generation of renewable energy available to the Lombardy cluster, but we are confident that Solarelit's capillarity throughout the country will allow us to progressively expand our reach, to expand into the rest of Italy and grow throughout the Mediterranean".
This operation materializes the presence of Greenvolt Next Holding (a subholding for the distributed generation of the Greenvolt Group) in a new geography, bringing to six the number of countries (Portugal, Spain, Poland, Germany, Greece and, now, Italy) in which it offers its solutions of distributed generation of energy obtained from renewable sources, a strategic segment for the company.
Solarelit powered by Greenvolt, a reference company with more than 30 years of experience in the development, implementation, and management of photovoltaic projects, in the Commercial and Industrial segment, has more than 100 MW in installations of energy production units from irradiation solar. It offers a "turnkey" service, allowing its customers to take advantage of energy bill savings without the need for any initial investment.