$179.4 Million! Portugal's Greenvolt Plans To Form A Joint Venture To Invest in Photovoltaic Projects in Spain

Portuguese renewable energy company Greenvolt-Energias Renovaveis SA and its Madrid-based peer Green Mind Ventures (GMV) plan to invest 170 million euros ($179.4 million) in the Spanish solar market over the next five years.

Greenvolt announced that the proposed investment will be made through its new joint venture Sustainable Energy One (SEO). SEO will focus on small and medium-sized solar photovoltaic (PV) projects with a capacity of up to 10 MW, with a target to develop and sell 250 MW by 2028.

The joint venture will be led by Ignacio Madrid, former CEO of Galp Solar and current managing partner of GMV.

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