Grow Energy acquires 1.9 MW Solar Portfolio

Grow Energy, through its investment vehicle Grow Solar UPP, S.A., concluded in February the acquisition of a portfolio of 10 Photovoltaic Plants under the UPP regime – Small Production Unit, located in the Alentejo region.

The acquired Photovoltaic Plants are mostly in operation or in the final stages of construction, reaching a total installed capacity of 1.9MW. With an annual production capacity of 2.9GWh, equivalent to the consumption of around 800 Portuguese families, they help prevent the emission of 913 tonnes of CO2 into the atmosphere annually.

As Luís Pereira de Almeida, general manager of Grow Energy, points out,“this acquisition enriches the portfolio of Grow Solar UPP and reinforces its position as the main investor in Portugal in this segment of renewable energy assets, already surpassing the threshold of 9MW of installed capacity“. On the other hand, “it is a unique portfolio in the market and of undeniable quality, built on scattered farms in Alentejo”, he adds.

It should be noted that the UPP regime was created in 2014, under DL 153/2014, having recently been replaced by DL 162/2019, which allowed, among other aspects, the licensing of projects of up to 1 MW of total power.