Greenvolt Group, a global renewable energy leader and part of KKR’s portfolio, has announced a €320 million investment in its UK business over the next three years, aiming to reach 1GW of renewable energy capacity by the end of 2028.
The multi-year investment will be allocated across its UK utility-scale and distributed generation businesses. €270 million is earmarked for Greenvolt Power, to support the development and expansion of solar and battery storage utility-scale assets. An additional €50 million will support the development of distributed generation through Greenvolt Next UK, enabling businesses to generate and manage their own clean energy onsite.
The majority of Greenvolt Power and Greenvolt Next UK’s installations will be solar, supporting the UK Government’s ambitions to triple solar PV capacity to 45-47GW by 2030, as outlined in its Solar Roadmap. A key focus of the roadmap is rooftop solar, particularly on commercial buildings such as warehouses, with an identified potential of up to 15GW.
João Manso Neto, CEO of the Greenvolt Group, says, “Our €320 million commitment to the UK over the next three years reflects both the opportunity we see in the market and Greenvolt’s determination to lead in clean energy solutions across distributed generation, utility-scale and sustainable biomass – where we operate a strategic cluster in the southern region near London with two plants. There is vast opportunity in the UK for the adoption of solar in particular, and we are pleased to support the UK’s ambitious goals.”
Greenvolt Next UK is a recent addition to the Group’s distributed energy footprint. The €50 million investment will support the development of a portfolio of commercial and industrial projects with a target capacity of 500MW by the end of 2028. Greenvolt Next UK helps large UK businesses to produce, consume and manage their own green electricity, such as through rooftop solar installations on warehouses and industrial buildings, contributing to lower electricity expenditure, reduce dependency on the grid and meet decarbonisation goals.
Based in Warrington, Greenvolt Next UK is currently managing a range of sales pipeline amounting to 150MW. This includes PV solar installations on the Weston Favell Shopping Centre in Northampton and Birchwood Shopping Centre in Warrington.
Owen Power, CEO, Greenvolt Next UK, is seeing growing demand for decentralised (or onsite) clean energy solutions in the UK and says, “After establishing Greenvolt Next in the UK, it is exciting to see that more and more businesses are realising the potential for decentralised energy solutions to provide immediate environmental and cost benefits. This investment will help us bring renewable energy to more UK businesses.”
The company has a global probability-weighted pipeline of 13.2GW, including 210MW of solar PV and 57MW of Battery Energy Storage Systems (BESS) in the UK.
The Group recently completed a €150 million share capital increase, fully subscribed by its shareholder KKR, aimed at strengthening Greenvolt’s financial capacity and supporting its long-term growth strategy — with a particular focus on battery storage (BESS) across key markets, the UK among them.
