Greenvolt obtains 50% stake in solar co Univergy Autoconsumo

• Portuguese renewables company Greenvolt - Energias Renovaveis SA (ELI: GVOLT) has actually obtained a 50% stake in Univergy Autoconsumo, a firm focused on solar power remedies in the Spanish service field.

The acquisition is available in the form of a EUR-12-million (USD 13m) capital rise at Univergy Autoconsumo. GreenVolt has the alternative to purchase the firm's entire capital in the future.

Before the deal, the shares in Univergy Autoconsumo were held by Spanish-Japanese renewables programmer Univergy Solar as well as Remigio Abad, previous General Manager of Powen.

Given that its structure in 2019, Univergy Autoconsumo has actually applied around 400 projects, currently holding an additional pipeline of 600 MW, the announcement states.