Portuguese renewable energy company Greenvolt - Energias Renovaveis SA has entered into an agreement to participate in the capital increase of Spanish solar panel installer Perfecta Energia.
Greenvolt, which operates as the renewables arm of Portuguese pulp producer Altri SGPS SA (ELI:ALTR), would take a 29.23% stake in Perfecta Energia and take part in the firm's management.
Greenvolt announced the news in a Linkedin post.
According to a different firm, Spanish impact investor Creas, Perfecta Energia closed a EUR-3.5-million (USD 4.16m) funding round last week to expand its installation business in Spain.
Perfecta Energia was founded in Madrid in 2019. The company sells, installs and maintains solar PV panels for self-consumption for residential customers.
The company has so far been active in central and eastern Spain, but with the new funding, it plans to consolidate its team and take its business model nationally, said Creas.
Greenvolt said it sees great potential in Perfecta Energia for medium-term growth, both in terms of turnover and profitability.
(EUR 1.0 = USD 1.187)
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