Portugal's AdC approves 70% stake acquisition in Profit Energy

Autoridade da Concorrência (AdC), the Competition Authority of Portugal, has approved the 70% stakes acquisition deal of Greenvolt - Energias Renovaveis SA in Profit Energy.

Profit Energy is a Portuguese solar and energy efficiency project developer that specializes in the development and design of energy production projects using renewable sources and energy efficiency, with a strong focus on photovoltaic solar systems and LED lighting.

Closing of the transaction is expected to be done in the coming days.