GreenVolt enters US market with new acquisition

GreenVolt has entered the US market after its subsidiary, V-Ridium Power Group, acquired California-based Oak Creek Energy Systems (OCES), a company with renewable energy projects in the USA and Mexico.

In a statement, the renewable energy company led by João Manso Neto said that the purchase would result in the creation of V-Ridium Oak Creek Renewables (VOCR), which will be led by the OCES management team and will absorb the remaining team.

The deal will allow GreenVolt to enter the market to promote and develop renewable energy projects in the US market, “alone or in partnership with other operators. The Portuguese company also stresses that the newly created VOCR will have a “very experienced team with a vast track record in developing energy projects in those markets”.

GreenVolt’s CEO considers it to be “a huge opportunity” to enter the North American market. The deal “is carried out through a very experienced team in developing successful renewable energy projects,” says Manso Neto in a statement sent to the Portuguese press.

This is the latest deal for GreenVolt, after it made several acquisitions last year, including British company Tilbury Green Park, Poland’s V-Ridium, Portugal’s Profit Energy and Spain’s Perfecta Energia.