Greenvolt, a developer and producer of clean energy, has announced a €150 million share capital increase, fully subscribed by alternative asset manager and private equity investor KKR. This investment is designed to support Greenvolt’s growth, particularly in the area of large-scale battery storage solutions.
Established in 2021, Greenvolt, based in Portugal, was acquired by KKR in 2024 for €1.2 billion. The company operates across 20 regions in Europe, North America, and Asia, focusing on three primary business areas. These include Sustainable Biomass, with seven power plants generating energy from forest residues and urban waste wood; Utility-Scale, which involves the development of large-scale solar, wind, and storage projects; and Distributed Generation, offering installation, maintenance, and financing solutions for distributed solar PV projects.
According to Greenvolt, this capital increase is part of the investment plan set out during its acquisition by KKR, aimed at bolstering the company’s capacity to invest, especially in utility-scale battery energy storage systems (BESS). Greenvolt positions itself as a European leader in BESS, with a probability-weighted pipeline of 4.3 GW across nine countries, and anticipates substantial investments in BESS in the coming years.
The capital increase will occur in two stages, with the first €100 million tranche expected in early August, followed by an additional €50 million by the end of September.
João Manso Neto, CEO of Greenvolt Group, commented, “This capital increase is part of the path we’ve been building alongside our shareholder and once again demonstrates its commitment to Greenvolt’s strategy. It gives us access to the financial resources needed to accelerate the execution capabilities we have consistently demonstrated and to further strengthen Greenvolt’s position as a key player in the energy transition.”
