Otovo enters Portugal market

Solar panels company Otovo has entered the Portuguese market.

The Norwegian company doubled its worldwide sales to around €17 million in the third quarter of 2022.
The company installs solar panels for the residential market with almost 2,000 installations in Europe in the third quarter of 2022 and 2,740 sales compared to 1,470 on the same quarter last year, and quarterly revenues of around €17 million compared with €8.3 million like-for-like.
Otovo has now successfully launched in Portugal, the UK and Austria having now sold projects in 10 European countries. This year the company will launch in Holland, Belgium and Switzerland.
The Managing Director of Otovo in Portugal, Manuel Pina said: “We are enjoying a period of strong demand for solar panel systems in the residential market in Europe and Portugal is no exception.
“The numbers also reveal how market demand will grow in the near future in line with European markets”.
Otovo was founded in Norway in 2016 and is a digital platform that mobilises hundreds of highly qualified fitters on the ground. The company uses its own technology to analyse the potential of any house and find the best installer.