Greenvolt enters US market through acquisition of Oak Creek Energy

Image by U.S. Department of Agriculture.

January 11 (Renewables Now) - Portuguese renewable energy company Greenvolt - Energias Renovaveis SA (ELI:GVOLT) has completed the acquisition of resources from California-based company Oak Creek Energy Systems.

The transaction was carried out through the Portuguese firm’s subsidiary V-Ridium Power Group and marks its entry into the US market, Greenvolt said on Monday.

Oak Creek has a renewable energy portfolio mainly made up of wind assets in both the US and Mexico.

This transaction has resulted in the creation of V-Ridium Oak Creek Renewables. The new enterprise will be led by Oak Creek's management team.

Greenvolt CEO Joao Manso Neto noted that the entry into the North American market is a huge opportunity for the company as it presents new growth avenues for it and brings in a very experienced team in project development.

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