Greenvolt continues to strengthen its growth strategy through acquisitions. The energy company, headed by João Manso Neto, announced on Thursday it has bought the Polish energy storage company, KSME, for three million euros.
The acquisition of KSME was carried out through a joint venture between the Polish subsidiary of Greenvolt, V-Ridium Power Group and partners of the NEO Energy Group, with the V-Ridium Power Group now owning 51% of the capital. The deal amounted to 14 million zlotys (approximately 3 million euros), which is 2.1 thousand euros / MW for connection to the already guaranteed network.
KSME is a Polish energy development and storage company with a portfolio of 5.56 GW, of which 1.4 GW have already provided high voltage connections to PSE, the Polish grid operator. In addition to storage and network connectivity, Greenvolt plans to use KSME’s facilities to connect large-scale projects to the Polish network, namely solar, wind and hybrid projects.
“This acquisition is a very important step for Greenvolt on the Polish market, making it an important player in the energy storage market. Diversification of technologies is one of the main goals of the company and is an important element in terms of providing reliable solutions and contributing to the stability of the Polish power grid, ”said Greenvolt CEO Joao Manso Neto, quoted in the statement.
The company began its operations by combining various energy assets from surplus biomass, forestry and agroforestry in December 2005. It currently operates five forest biomass thermoelectric power plants in Portugal with an installed capacity of approximately 978 MW and an urban waste biomass power plant in the United Kingdom with an installed capacity of approximately 42 MW.
On the stock exchange, Greenvolt has a market cap of 701.6 million euros. This Thursday is still strong reaching an all-time high of 5.96 euros, after receiving news of inclusion in the PSI-20 index from 20 September.
