Greenvolt Group invests €320m to boost UK renewables efforts
The investment will be split between two business arms and will support the firm’s target of having 1GW of capacity online by 2028.
The Greenvolt Group has announced that it will invest €320 million (£279 million) into the UK renewable energy sector over the next three years as it targets a total of 1GW of renewable energy capacity by the year 2028.
The investment will be split between two divisions of the business, with €50 million being directed to Greenvolt Next UK to focus on distributed energy projects primarily for large-scale commercial and industrial clients.
Greenvolt Next UK was launched in February of this year and has worked on several large-scale projects, including deals for installations on two shopping centres. This project, which was announced in June, will see Weston Favell Shopping Centre in Northampton and Birchwood Shopping Centre in Warrington installed with solar PV arrays with a total combined capacity of around 580kWp.
The bulk of the investment, however, will be allocated to Greenvolt Power, the company’s utility-scale business arm. A total of €270 million will be invested in Greenvolt Power, which works to develop utility-scale solar PV and battery energy storage system (BESS) projects. Greenvolt currently operates a 9.3GW international wind, solar and BESS pipeline spread across Europe, as well as owning biomass plants at two locations in England.
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Joao Manso Neto, Greenvolt Group chief executive, expressed enthusiasm for the future of Greenvolt’s UK business operations. Neto noted that the commitment was a prime example of “both the opportunity we see in the market and Greenvolt’s determination to lead in clean energy solutions across distributed generation, utility-scale and sustainable biomass”.
Greenvolt keeps growing
This announcement is one of two major financial announcements made by Greenvolt in recent weeks. At the end of July, the firm announced that it would be proceeding with a €150 million share capital increase. The share capital increase, which is fully subscribed by the company’s shareholder KKR, will be implemented in two phases; the first will take place in early August, and the second is scheduled to be completed by 30 September 2025.
In October of last year, the Greenvolt Group announced that it had increased its total available finance to €400 million, courtesy of two unnamed international banking institutions. This deal brought the total number of banking institutions in the firm’s finance syndicate to eight and has primarily been used to expand its biomass energy offerings.
Speaking at the time, Neto noted that the “increase in financing reflects the trust that financial institutions have in our strategy in the renewables sector.”, adding that “It also highlights the benefits of having KKR as a key shareholder, extending our reach within the financial community.”
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The start of this year saw the Greenvolt Group’s Irish business arm undergo a major rebranding and be renamed from Enerpower Powered By Greenvolt to Greenvolt Next Ireland. This area of the business was acquired after the group took on a majority stake in renewable energy development firm Enerpower in 2023.
At present, Greenvolt Ireland has a portfolio of over 700 projects with a signed capacity fo 300MW and a 160MW operational portfolio.
Original source: Solarpowerportal
