GreenYellow & Enhol Join Forces to Invest €200M in Energy Projects

Source: www.gulfoilandgas.com 2/29/2024, Location: Europe

- This strategic alliance is created with the aim of providing a comprehensive energy solution by combining the synergies of both companies in the fields of solar self-consumption, energy efficiency, storage, and energy marketing projects.
- Its objective is to achieve a total capacity of 300 MWp within five years.
- Both companies plan to invest in Energy Efficiency projects to generate approximately 100 GWh of energy savings.
- It will operate under the GreenYellow brand and will benefit its clients in terms of environmental impact, competitiveness, and operational cost savings.

GreenYellow, global leader in decentralized solar production and energy efficiency projects, owned by the private investment fund Ardian, has partnered with the Enhol Group, a worldwide leader in renewable energy project development, to become a major player in decarbonization in Spain. With an existing portfolio of local and international clients, this strategic alliance anticipates an investment of 200 million euros over the next five years to achieve 300 MWc. Building on various executed and ongoing projects, the aim is to accelerate growth. The alliance will also invest in energy efficiency projects to generate approximately 100 GWh of energy savings.

This new entity, operating under the GreenYellow brand, will offer a comprehensive platform of decarbonization offerings to commercial and industrial clients in Spain through the synergies of the two companies. On one hand, GreenYellow will provide its expertise in 100% financed and decentralized energy transition solutions such as industrial self-consumption PPAs and energy efficiency projects in “As a Service” model. The strategic alliance will continue to expand its ecosystem of EPCs and installers, placing its partners at the core of its growth strategy and strengthening commercial interactions. On the other hand, Enhol Group will integrate its range of energy solutions to offer energy commercialisation, leveraging its own renewable energy production capacity. Both companies will develop new activities such as energy storage solutions for potential clients.

This strategic alliance will thus be able to provide 100% of the energy solutions to support its clients in their decarbonization. For example, it will have the joint capacity to acquire already operational self consumption facilities, and then structure PPAs for them with storage to cover the most expensive hours of consumption. This integration will allow clients to enhance their energy independence, achieve their energy transition, increase their competitiveness, and reduce their operating costs without increasing their indebtedness.

Marcelino Oreja, Chairman of the Alliance, Chairman of GreenYellow Iberia (Spain and Portugal) and Member of the Board of Directors of the GreenYellow Group, emphasizes: "This agreement is part of our strategy for organic and external growth in Spain, a dynamic market offering numerous opportunities due to its strong commitment to the energy sector and sustainable investments. It reflects our ambition to grow exponentially in Europe and globally, with the support of our partner Ardian."

Nicolas Daunis, General Manager of GreenYellow Iberia (Spain and Portugal): "We are delighted to join forces with one of the most relevant players in Spain's renewable energy ecosystem. By combining our 17 years of international expertise in promoting such projects with the strong local knowledge of the Enhol group, which has been operating in the renewable energy sector in Spain for over 30 years, we will offer commercial and industrial clients a one-stop shop for decarbonized energy and energy efficiency. This agreement allows us to go a step further in our goal for the Spanish market: to guarantee and facilitate the energy savings and sustainable transition that businesses want to achieve.

For his part, Ismael García, Director of Business Development in the energy sector of Enhol Group, points out that "this alliance with GreenYellow as a strategic partner marks a new growth stage for the decentralized production division of the Enhol Group. We are confident that this partnership will bring innovation to the self-consumption market in Spain, such as the opportunity to acquire operational facilities, among other things, to structure new on-site PPAs by incorporating storage and thereby being able to sell energy at fixed prices during peak hours."


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