GreenVolt agree to acquire 70% of Profit Energy
GreenVolt and Track Profit Energy entered into an agreement under which GreenVolt intends to acquire 70% of the share capital of Profit Energy.
Profit Energy is a reference in the renewable energy sector, dedicated to the development of energy efficiency projects, as well as the installation of photovoltaic solar projects, including the development of engineering, procurement and construction (EPC) projects and provision operation and maintenance (O&M) services.
The projected acquisition of 70% of Profit Energy is part of the process of consolidating GreenVolt as an international player of excellence in the renewable energy market, further supporting its strategy of growth and expansion of its business in the sectors of renewable energy.
Greenvolt – Energias Renováveis SA, is a leading company in the production of renewable energy. The company started its activity with the aggregation of various energy production assets from biomass, forest and agroforestry surpluses in December 2005. At this moment, it operates five thermoelectric energy production plants from forest biomass with approximately 97 MW of installed power.
As part of the Altri Group, one of the world's largest producers of short-fiber pulp made from eucalyptus, it benefited from synergies with the Group's forest management and pulp production activity. The company is today the main reference in terms of energy production from biomass in Portugal and its objective is the international development of energy production projects from renewable sources, namely solar and wind.