GreenVolt buys 35% of MaxSolar for €26 million
German-based MaxSolar develops ground-mounted and rooftop photovoltaic solar projects in Germany and Austria.
GreenVolt has reached an agreement to buy 35% of German-based MaxSolar, a leading company in the development, implementation and management of solar photovoltaic and battery storage projects, for €26 million.
According to a statement sent to the Portuguese Securities and Exchange Commission (CMVM), the company led by João Manso Neto has closed a deal to acquire a 35% stake in MaxSolar, having “rights of active intervention in the management” and assured the “right to, in the future” be able to “reinforce its level of shareholder participation.”
MaxSolar develops ground-mounted and rooftop photovoltaic solar projects in Germany and Austria and has a pipeline of 3.2 GW, of which 0.8 GW “are in an advanced stage of development”. The company, founded in 2009, is also active in energy storage systems as well as charging solutions, where it operates under the brand “esolution by maxsolar”.
“This acquisition is a very significant step for Greenvolt in one of the most important renewable energy markets in the world, namely solar. The entry of GreenVolt in Germany through MaxSolar, makes it an important player in this market,” said João Manso Neto, quoted in a statement. The acquisition is still dependent on the approval of the customary conditions and of the German Federal Cartel Office (FCO).