Renewable energy developer, Greenvolt has acquired a majority stake in Waterford firm, Enerpower in a deal with a total investment value of €25m.
Enerpower is based on the Cork Road in Waterford and works for several large clients including PepsiCo, Lidl, Pfizer and Virgin Media.
It also has power purchase agreements with companies such as Eli Lilly and Tesco.
In 2022, Enerpower announced plans to create 100 jobs as part of its three-year expansion plan to meet the increasing demand from companies for renewable energy.
As part of the agreement, the Greenvolt Group will acquire more than half of Enerpower's capital and 50.25% of a company dedicated exclusively to PPAs.
The contract also includes an option to increase the shareholding to 100%, which can be exercised in 2028, with the transaction still awaiting regulatory approval.
Enerpower's acquirer, Greenvolt Group is a pan-European renewable energy firm with a presence in more than 15 countries.
