Another giant of the photovoltaic sector landed in Spain with national capital. Prodiel, company participated by the Godya family and the enterpreneur Ángel Haro, together with the fund manager Everwood, created the company DVP Solar. The green energy giant has born with 7.000 megawatts with connection and target to reach 10.000 megawatts, which will allow it to enter France, Germany, Italy, Colombia and Peru.
DVP Solar will be 50%-50% owned by Prodiel and Everwood, according to Expansión. As a result, a renewable developer and a fund manager, both Spanish, come together to boost a new renewables giant in Spain. This opened up a door to this kind of mergers of companies of clean production in the country and to the creation of mixed companies to become more competitive in the sector.
Partnership, projects and financial muscle
Prodiel and Everwood’s company is the best example of long-term agreements that are being reached in Spain in the renewable energy sector. DVP Solar is the final result, although the new business landscape in the Country is being shaped through partnerships and agreements between Repsol and Forestalia, Total and Ignis, Galp and ACS, and Bruc and Alter, among others.
DVP Solar will count on the portfolio of projects under development of Prodiel and on Everwood’s financial resources. The company participated by the Godia family and Haro will keep being a construction company in the renewables sector. On the other hand, the fund manager will use the resources of its fifth fund, that has already raised more than €100m from reputable investors in order to give financial strength to the new renewables vehicle.