After Portugal, Spain, Poland, Germany, and Greece, Greenvolt Next enters its sixth market, Italy, with the acquisition of more than one-third of the capital of Solarelit in an operation that values the company at €33.5 million.
Greenvolt has reached an agreement to acquire 37.3% of Solarelit, with the possibility of strengthening its position in the capital of the Milan-based company. With this operation, the European leading company in promoting renewable energy projects takes another step in its expansion strategy in the distributed generation business by entering the important Italian market.
As part of the agreement reached, Greenvolt, through Greenvolt Next Holding (the sub-holding for distributed generation of the Greenvolt Group), will control more than one-third of the Italian company’s capital in a transaction that values Solarelit powered by Greenvolt at €33.5 million. The signed contract also includes an option to increase the stake in the company’s capital.
João Manso Neto, CEO of the Greenvolt Group, stated that “the Italian market presents enormous growth opportunities for us. By acquiring a position in Solarelit’s capital, we can bring our expertise in the distributed generation segment to Lombardy’s business cluster. However, we are confident that the wide reach of Solarelit powered by Greenvolt will enable us to expand progressively throughout Italy and grow in the Mediterranean region.”
Solarelit powered by Greenvolt is a reference company with over 30 years of experience in developing, implementing, and managing photovoltaic projects in the commercial and industrial sectors. It currently has over 100 MW in energy production units from solar irradiation and offers a “turnkey” service, enabling its clients to benefit from energy bill savings without any initial investment.
Mitia Cugusi, Managing Partner of Solarelit powered by Greenvolt, expressed his pride in joining Greenvolt, “a group with a strong position in the distributed generation segment of energy in Europe. We will continue our growth in Italy with the knowledge that Greenvolt brings, which will increase our notoriety and credibility at an international level, reinforcing our position in the energy market.”
In turn, Andrea Faini, Managing Partner of Solarelit powered by Greenvolt, said, “we aim to meet the growing needs of Italian companies for self-consumption solutions by providing solutions without the need for an initial investment, resulting in a significant reduction in energy costs. This is a vital tool for enhancing the competitiveness of companies and the Italian economy, as well as contributing to the important energy transition.”
This operation materializes the presence of Greenvolt Next Holding in a new geography, raising to six the number of countries (Portugal, Spain, Poland, Germany, Greece, and now Italy) in which it offers its solutions for distributed generation of energy obtained from renewable sources, a strategic segment for the company.