GreenVolt completes acquisition of 70% of Profit Energy

  • ECO News
  • 25 August 2021

GreenVolt completed the acquisition of 70% of Profit Energy after certain conditions were met, such as the non-opposition of the Competition Authority (AdC).

GreenVolt concluded the acquisition of 70% of Profit Energy, a company in the renewable energy sector, with a special focus on energy efficiency and solar energy. At this moment, the majority of the energy company’s shares are in the hands of GreenVolt.

Profit Energy is also responsible for projects in the areas of engineering, procurement and construction (EPC) projects and provision operation and maintenance (O&M) services. To complete the acquisition of the majority of the company’s shares, “necessary conditions” had to be met, such as ” the non-position by the Competition Authority (AdC),” explains GreenVolt in a statement.

“The 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,” says GreenVolt.