Smartenergy acquires majority stake in Portuguese programmer Rewatt

• Swiss renewables capitalist Smartenergy has actually obtained a majority stake in Rewatt, a Portuguese solar designer concentrated on the rooftop business as well as commercial (C&I) market.

The Swiss financier will certainly bring its understanding in large-scale renewables financial investment to enhance Rewatt's client base to larger corporate consumers.

The various other section both business will want to expand in is community solar in Portugal, which has actually benefitted from new laws that allow attractive company models, according to Smartenergy.

In the meantime, the focus will generally be aimed at Portugal, with an expansion in Europe later on.

The press right into C&I solar in Portugal comes months after the new Portuguese federal government brought forward its 80% renewables target by 2026, four years earlier than formerly prepared.

Ricardo Meireles, CEO of Rewatt, said: "This partnership with Smartenergy brings to Rewatt a new capacity and also a new dynamic to create its organization. Leaving the convenience zone and also broadening throughout Europe, placing itself not just near tiny customers however likewise to huge corporate consumers, are the steps that were currently described, yet with this partnership its execution will certainly speed up."