Smartenergy and Rewatt closed an agreement that makes the Swiss company the new majority shareholder of the Portuguese developer. Together they will expand the existing business of Rewatt and harvest the synergies between them.
Rewatt has already been developing self-consumption solar rooftop solutions for SMEs and industrial customers. Smartenergy is well networked and established as a large-scale renewables investor and developer all over Europe with a very strong standing in Portugal. Together the two companies will grow the client base of Rewatt to larger corporate consumers of energy.
At the same time, new regulations in Portugal enable attractive business models with energy communities. This will be the second growth area for the newborn partnership, bringing green energy to an even wider range of consumers through sharing communities.
The focus is currently mainly on Portugal. In addition, the two partners want to push expansion in Europe.
“Investing in Rewatt is another example of Smartenergy continuing its rapid growth path. It shows our flexibility and speed to adapt to changing market situations. With this acquisition Smartenergy is now tapping into the potential of the fast-growing segment C&I across our markets,” said João Cunha, COO and Deputy CEO of Smartenergy.
Ricardo Meireles, CEO of Rewatt: “This partnership with Smartenergy brings to Rewatt a new capacity and a new dynamic to develop its business. Leaving the comfort zone and expanding throughout Europe, positioning itself not only close to small consumers but also to large corporate consumers, are the steps that were already outlined, but with this partnership its implementation will accelerate. Rewatt sees Smartenergy as a reference player in the sector, an experienced, ambitious and responsible partner, capable of catapulting our business to a new level with the confidence of a Swiss company.”