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Solar Energy. GreenYellow in the Portuguese market with the acquisition of GEM
French company GreenYellow announced today the acquisition of Grow Energy Management (GEM), thus entering the Portuguese market with plans to develop over 100 megawatts-peak (MWp) of solar energy in the next three years.
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Economia GEM
"Together with GEM in Portugal, GreenYellow plans to develop over 100 MWp in the next three years under the leadership of the GEM management team," the company said in a statement.
With this operation, GreenYellow integrates a portfolio of nearly 120 MWp of ready-to-build or already operating decentralized solar projects in the industrial and commercial distribution sectors, including a large-scale 100 MWp project in Poland with Biedronka, part of the Jerónimo Martins Group.
According to the same note, GreenYellow plans to invest around 150 million euros in the next three years in Portugal and Poland, to accelerate the energy transition of customers.
With this operation, the two companies will become a single entity -- GrennYellow Portugal -- headquartered in Lisbon and controlled by GreenYellow.
"GreenYellow is the ideal partner for the next phase of our growth, bringing both the financial capacity and the technical expertise to accelerate our development and provide our customers with the best decentralized solar energy production and energy efficiency solutions at affordable and sustainable prices, helping to reduce carbon emissions and promoting a cleaner and more sustainable future," said GEM CEO and GreenYellow Portugal Co-CEO Miguel Almeida Henriques in a statement.
GreenYellow is a French company founded in 2007, specializing in decentralized photovoltaic production, energy efficiency projects and energy and electric mobility services, present in around 20 countries.
Read Also: IEA revises down increase in global oil demand (Portuguese version)
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