Swiss renewables investor Smartenergy has acquired a majority stake in Rewatt, a Portuguese photo voltaic developer targeted on the rooftop business and industrial (C&I) market.
The Swiss investor will convey its information in large-scale renewables funding to extend Rewatt’s shopper base to bigger company customers.
The opposite section each firms will look to develop in is neighborhood photo voltaic in Portugal, which has benefitted from new laws that allow engaging enterprise fashions, in accordance with Smartenergy.
For now, the main focus will primarily be aimed toward Portugal, with an growth in Europe afterwards.
The push into C&I photo voltaic in Portugal comes months after the brand new Portuguese authorities introduced ahead its 80% renewables goal by 2026, 4 years sooner than beforehand deliberate.
Ricardo Meireles, CEO of Rewatt, stated: “This partnership with Smartenergy brings to Rewatt a brand new capability and a brand new dynamic to develop its enterprise. Leaving the consolation zone and increasing all through Europe, positioning itself not solely near small customers but additionally to giant company customers, are the steps that have been already outlined, however with this partnership its implementation will speed up.”
