GreenVolt buys 35% of MaxSolar

The Portuguese renewables company GreenVolt has purchased 35% of the German company MaxSolar for €26 million.

MaxSolar develops land and roof-based photovoltaic projects in Germany and Austria and has a 3.2 GW pipeline capacity of which 0.8 GW “are in an advanced stage of development” states the company.
According to a communiqué sent by GreenVolt which is run by ex-EDP Renováveis director João Manso Neto, and sent to the Portuguese stock market commission CMVM, Neto closed a deal to acquire a 35% share in MaxSolar giving the company “rights to intervene actively in its management” and establishing the “right in the future to reinforce its level of shareholding”.
MaxSolar, which was founded in 2009, also operates in the area of energy storage systems, as well as power charging solutions where it trades under the brand ‘resolution by MaxSoar”.
In January GreenVolt announced that it would enter the US market after its subsidiary V-Ridium Power Group acquired the resources of Oak Creek Energy Systems (OCES) which is based in California with renewable energy projects in the US and Mexico.