Greenvolt nearing acquisition of 42% stake in Spanish solar firm Perfecta Energia
Solar module. Author: Oregon Department of Transportation. License: Creative Commons, Attribution 2.0 Generic.
October 21 (Renewables Now) - Portuguese renewables company Greenvolt - Energias Renovaveis SA (ELI:GVOLT) has completed the first phase of a process to acquire a 42% stake in Spanish solar panel installer Perfecta Energia, it said Thursday.
Greenvolt, which operates as the renewables arm of Portuguese pulp producer Altri SGPS SA (ELI:ALTR), estimates the transaction will be concluded in the upcoming weeks.
Greenvolt also said it has guaranteed the option to acquire the entire share capital of the target company in 2024.
Founded in 2019, Madrid-based Perfecta Energia sells, installs and maintains solar photovoltaic (PV) panels for self-consumption for residential customers.
The company has so far been active in central and eastern Spain, but has plans to expand its presence in the rest of the country.
According to Greenvolt, Perfecta Energia booked revenues of EUR 1.7 million in 2020, reaching accumulated value of EUR 3.5 million at the end of August 2021.
Greenvolt said that Perfecta Energia is expected to see significant growth by the end of the year.