Smartenergy takes control of Portuguese solar developer Rewatt

• Swiss investment company Smartenergy Group AG introduced today it has actually sealed a deal to purchase a majority stake in Portuguese rooftop solar developer Rewatt, specialising in self-consumption installations for the local commercial as well as industrial (C&I) field.

Smartenergy claimed in a statement that with this relocation the pair look for to capitalize on the development chances connected with industrial self-consumption and also power communities in Portugal as well as throughout Europe. The Swiss capitalist strategies to help Rewatt broaden its existing organization as well as expand its customer base to include bigger business energy users.

"With this procurement Smartenergy is currently taking advantage of the capacity of the fast-growing sector C&I across our markets," commented Joao Cunha, COO and Deputy CEO of Smartenergy.

The financier mentioned that power communities will be the second growth area for the newborn partnership.