GreenYellow gets hold of 120 MWp of solar assets in Portugal, Poland

Greenyellow, GEM acquisition deal. From left to right: Bertrand Romieu, Marcelino Oreja, Otmane Hajji, Miguel Almeida Henriques, Miguel Magalhães, Rolando Furlong, Nicolas Daunis, Bernardo Matos. Image by Greenyellow

French renewable energy company GreenYellow is acquiring nearly 120 MWp of decentralised solar assets, either ready-to-build or already operational, through the merger of its Portuguese unit with sector player Grow Energy Management (GEM), it was announced today.

Under the terms of a deal that includes a shares swap, GreenYellow Portugal will merge with the decentralised photovoltaic (PV) specialist to form a single entity based in Lisbon and controlled by GreenYellow.

The aforementioned bundle of GEM assets being acquired includes a 100-MWp project portfolio in Poland with Biedronka, part of the Jeronimo Martins Group.

Following the combination, GreenYellow Portugal will target the development of over 100 MWp of decentralised solar projects over the next three years, while GreenYellow Polska will support the development and operation of existing projects and future initiatives in Poland.

GreenYellow noted it plans to invest nearly EUR 150 million (USD 162.5m) over the next three years in Portugal and Poland to speed up its clients' energy transition.

(EUR 1 = USD 1.083)

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