Smartenergy takes control of Portuguese solar developer Rewatt
Image Credits: Smartenergy Group AG.
Swiss investment firm Smartenergy Group AG announced today it has sealed a deal to buy a majority stake in Portuguese rooftop solar developer Rewatt, specialising in self-consumption installations for the local commercial and industrial (C&I) sector.
Smartenergy said in a statement that with this move the pair seek to take advantage of the growth opportunities associated with industrial self-consumption and energy communities in Portugal and across Europe. The Swiss investor plans to help Rewatt expand its existing business and grow its customer base to include larger corporate energy users.
“With this acquisition Smartenergy is now tapping into the potential of the fast-growing segment C&I across our markets,” commented Joao Cunha, COO and Deputy CEO of Smartenergy.
The investor pointed out that energy communities will be the second growth area for the newborn partnership.