Greenvolt buys into Solarelit to enter Italy’s DG photo voltaic market

Portuguese renewables firm Greenvolt – Energias Renovaveis SA (ELI:GVOLT) has inked a deal to amass a 37.3% stake in Milan-based Solarelit which is concentrated on distributed era (DG) photo voltaic power options in Italy.

Greenvolt mentioned on Thursday the acquisition values the goal firm at EUR 33.5 million (USD 35.5m). The phrases of the settlement give the customer the choice to bolster its participation in Solarelit’s capital sooner or later.

The Italian firm has over 100 MW of photo voltaic power manufacturing items each within the industrial and industrial sectors and gives companies similar to creating, implementing, and managing photovoltaic (PV) tasks.

The acquisition, made via its DG sub-holding Greenvolt Subsequent Holding, marks the Portuguese firm’s entry into the Italian distributed photo voltaic era market. Other than Italy, Greenvolt Subsequent Holding is current additionally in Portugal, Spain, Poland, Germany and Greece.

(EUR 1.0 = USD 1.060)

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