Greenvolt acquired a 35% stake in MaxSolar, a leading company in the development, implementation and management of solar photovoltaic and battery storage projects in the German and Austrian markets. The acquisition represents an investment of EUR 26 million. Greenvolt holds additional rights to reinforce this stake in the future.
MaxSolar develops ground-mounted and rooftop photovoltaic solar projects in Germany and Austria. It has a pipeline of 3.2 GW, of which 0.8 GW are in an advanced stage of development. In addition to the development of solar projects, MaxSolar also has utility scale and solar rooftop EPC (Engineering Procurement and Construction) activities, being one of the leading players in the German market in this segment.
Commenting on the transaction, João Manso Neto, CEO of Greenvolt, said: “This acquisition is a very significant step for GreeVvolt in one of the most important renewable energy markets in the world, namely solar. The entry of Greenvolt in Germany through MaxSolar, makes it an important player in this market.”
Germany is one of the world’s most important markets for renewable energy, both in terms of installed capacity (c. 60 GW of solar installed capacity in 2021) and in terms of the renewable ecosystem, including technology, suppliers, producers, and consumers.
In addition, supportive german policy aims to increase installed solar capacity to 300 GW by 2030 creates significant tailwinds for the market. Battery storage solutions are also expected to play an increasingly important role in the drive towards net zero.
