AdC approves the acquisition of 70% of Profit Energy
GreenVolt was notified by the Competition Authority of its non-opposition to the concentration operation between Greenvolt and Profit Energy. After this approval, Greenvolt expects that, in the next few days, the remaining conditions necessary for the conclusion of the acquisition of 70% of the share capital of Profit Energy will be met.
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 consolidation process of GreenVolt as a reference player, at an international level, 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 in Portugal and a thermoelectric plant in Tilbury, England.
The company is a reference in terms of energy production from biomass in Portugal and the United Kingdom and has as its objective the international development of energy production projects from renewable sources, namely solar and wind.