French renewable energy firm GreenYellow has unveiled plans to acquire nearly 120 MWp of decentralized solar assets, signaling a significant move in its expansion strategy. The acquisition will occur through the merger of its Portuguese unit with Grow Energy Management (GEM), a prominent player in the sector.
As part of the deal, GreenYellow Portugal will merge with GEM, forming a single entity based in Lisbon and under the control of GreenYellow. The transaction involves a share swap agreement.
The portfolio of assets being acquired from GEM includes a notable 100-MWp project portfolio in Poland, in partnership with Biedronka, a subsidiary of the Jeronimo Martins Group.
Post-merger, GreenYellow Portugal aims to focus on developing over 100 MWp of decentralized solar projects within the next three years. Meanwhile, GreenYellow Polska will concentrate on supporting the operation and development of existing projects as well as future initiatives in Poland.
In a statement, GreenYellow highlighted its commitment to invest approximately EUR 150 million (USD 162.5 million) over the next three years in Portugal and Poland. This investment is intended to accelerate the energy transition for its clients.
