GreenYellow Accelerates Expansion in Portugal and Poland

The specialist in distributed solar and corporate energy efficiency has acquired Grow Energy Management (GEM) and through this transaction takes over 120MWp of solar projects ready to be built or in operation, in the industrial sectors and commercial distribution.

GreenYellow, specialized in distributed solar and energy efficiency and entirely controlled by Ardian , is doing a double blow by strengthening itself in both Portugal and Poland thanks to the integration of the Grow Energy Management (GEM) platform active in these two countries. The transaction, including share exchanges, includes nearly 120 MWp of decentralized solar projects ready for construction or in operation, in the industrial and commercial distribution sectors. It includes a portfolio of projects for a total power of 100 MWp with the Polish supermarket chain Biedronka (Jeronimo Martins group). In Portugal, GEM and GreenYellow Portugal will become a single entity (GreenYellow Portugal) based in Lisbon. Focused on solar self-consumption and EaaS (Energy-as-a-Service), it plans to develop more than 100 MWp over the next three years.

Thanks to several funds raised from institutional and private investors, Grow Energy has contributed to the construction of approximately 1,350 solar power plants and the implementation of nine energy efficiency projects. “GEM has developed expertise in the Portuguese Self-Consumption (UPAC) market with leading clients and GreenYellow is the next step in its growth, bringing both the financial capacity and technical expertise to accelerate our development », Indicates Miguel Almeida Henriques, president of GEM and now co-director of GreenYellow Portugal.

“This operation is part of our strategy aimed at accelerating our European expansion, announced at the end of 2022, and underlines our commitment to actively contribute to the energy transition of Portugal and Poland, with reinforced ambition”, for his part declared Otmane Hajji, president of GreenYellow. The company plans to invest nearly 150 million euros over the next three years in Portugal and Poland to accelerate the energy transition of its customers.