Glentra Capital, owned by one of the world’s largest foundations, acquires DVP Solar from Seville, a company dedicated to the development of photovoltaic energy projects with a strong presence in France, Germany and Italy.
With the sale, the Spanish fund manager Everwood Capital ensures a significant return for its shareholders.

DVP Solar, a company from Seville that develops large photovoltaic energy projects, is changing hands, as it has been acquired by the management company Glentra. Founded by former executives of Copenhagen Infrastructure Partners (CIP) and dedicated to investment in renewables, Glentra has the owner of Novo Nordisk, Europe’s largest company, as its main investor. Until now, DVP Solar was owned by Everwood, a Spanish investment fund manager specialising in renewable energy.

The transaction has been hailed as a success by all parties. The acquisition of DVP Solar fits perfectly with Glentra’s strategy of investing in fast-growing renewable platforms that help mitigate the effects of climate change. For its part, Everwood Capital achieves with this sale a high return for its shareholders after acquiring DVP Solar in 2022. Finally, for the Seville-based company, it represents a turning point, as Glentra intends to scale up the company’s business and expand its capabilities so that from now on it will be able not only to develop projects throughout Europe, but also to build and operate them.

Henrik Tordrup, Managing Partner of Glentra, said: “We are delighted to announce the acquisition of DVP Solar. We will work closely with their management team, which will be easy as we share the same knowledge and vision for the company. DVP Solar’s strong financial position will allow us to accelerate its development and expansion. We look forward to actively supporting the company in the execution of its business plan.

Eduardo Criado, CEO of DVP, added that “this is a crucial moment for DVP Solar. We are confident that Glentra is an ideal partner to expand the growth of our company. We will work closely with Glentra in the coming years to ensure that their investments have an impact on a common goal: to build the infrastructure necessary for a sustainable energy transition.

Based in the Los Remedios district of Seville, DVP Solar has a portfolio of more than 3GW, mainly in France, Italy and Germany, as well as Latin America. Company sources assure that the workforce is expected to increase in the coming months in order to continue growing in the markets where it is present. In this sense, the Sevillian company will continue to operate under the orders of its CEO, Eduardo Criado, as it has until now.

About DVP Solar

DVP Solar is a multinational company that develops photovoltaic energy projects in an efficient, profitable and environmentally responsible way, in parallel with the fight against climate change. With a current portfolio of more than 3GW in different countries in Europe and Latin America, it expects to reach 5GW in less than two years. This rapid expansion is based on a technological development that allows for maximum efficiency in the storage and processing of photovoltaic energy.

DVP Solar takes care of the entire process: identifying suitable land and reaching an agreement with its owner, establishing partnerships with local developers to promote the project, designing the optimal connection to the grid, dealing with the administration to obtain the necessary permits, securing the most advantageous financing, supervising the construction of the photovoltaic plant and finally managing the owning company with regard to its operation and maintenance.

The company currently employs more than 75 people at 5 sites in Germany, Spain, Italy, France and Colombia.

About Glentra

Glentra Capital (‘Glentra’) was founded in 2022 by senior executives from the renewable energy and fund management sectors (including Copenhagen Infrastructure Partners and Vestas), with the vision of combining attractive returns with a commitment to accelerate the global energy transition to a clean and sustainable future. Glentra will contribute to this vision by investing in core energy infrastructure and platforms/companies that offer decarbonisation solutions to societies and the market.

The firm focuses on investments in power, heat, sustainable fuels, storage, carbon and energy integration. The combination of investment and industry expertise makes Glentra’s team ideally suited to enhance the growth and value creation of investors and portfolio companies. It has offices in Copenhagen and London.