Glentra announces the acquisition of DVP Solar, a developer of solar PV and battery storage projects
COPENHAGEN, DENMARK – June 17, 2024. Glentra Capital (‘Glentra’) is pleased to announce the acquisition of DVP Solar Worldwide (‘DVP’) from Everwood Fund V (‘Everwood’).
DVP develops utility-scale solar PV and BESS projects across Europe and Latin America. DVP, headquartered in Seville, Spain, was established in 2020 and today has more than 75 employees based out of 6 locations with on the ground presence in Spain, Italy, France, Germany and Colombia. DVP has a highly experienced management team with a long track-record within the solar and renewable finance industry.
The company focuses on agrivoltaics, which provide an opportunity to both mitigate the effects of the climate change on agriculture, alleviate concerns about land competition between solar parks and farming activities, safeguard biodiversity, and foster active involvement of local people and businesses, while delivering on cost competitive green power and CO2 emissions reductions.
Thereby, the acquisition of DVP fits well with Glentra’s strategy of investing into renewable growth platforms with strong management teams and a strategic focus on delivering projects that help solve the multi-dimensional objectives of the energy transition. Glentra will use its deep inhouse expertise within greenfield renewables to work actively with the DVP team in scaling the business and expanding its capabilities to include construction and operations across Europe.
Clifford Chance acted as legal counsel to Glentra. The investment was made on behalf of Glentra Fund I K/S.
Henrik Tordrup, Managing Partner at Glentra, said: “We are thrilled to announce the acquisition of DVP and our partnership with the management team. Our complementary skillsets, shared vision for the company, and its strengthened financial position will enable DVP to accelerate its development and scale, and Glentra is looking forward to actively supporting the company in executing its business plan”.
Eduardo Criado, Chief Executive Officer at DVP, added: “This is a pivotal moment for DVP. Glentra is an ideal partner for our growing company, with its long-term focus and strong commitment to providing capital for attractive infrastructure investments needed to deliver the energy transition. We look forward to working closely with Glentra for the years to come."
About Glentra Capital
Glentra Capital (‘Glentra’) was founded in 2022 by senior executives from the renewable energy and fund management industries (including Copenhagen Infrastructure Partners and Vestas), with the vision to generate attractive risk-adjusted returns while accelerating the global energy transition for a clean and sustainable future. Glentra will contribute to this vision by investing in, scaling, and de-risking core energy infrastructure and mid-market growth platforms/companies that deliver decarbonization solutions to societies and businesses. The firm focuses on investments across power, heat, sustainable fuels, storage, carbon, energy integration, and capital-intensive supply chain infrastructure. The combination of industry and investment experience across Glentra’s team enables a unique platform for growth and value creation for portfolio companies and investors. Glentra has offices in Copenhagen and London.
www.glentra.com
For media inquiries or further information, please contact:
Glentra Capital P/S
Lars Villadsen
Partner
larsvilladsen@glentra.com
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