Dovre Group Plc Press release January 22, 2025, at 2.30 pm
Dovre Group acquires 100% of Renetec Oy
Dovre Group has acquired the shares previously owned by minority shareholders of Renetec Oy. These shares have controlled about 42.8% of the ownership of Renetec. The transaction has been completed. After the transaction, Dovre Group owns 100% of the company's shares. Based on agreement between the parties, the purchase price is not disclosed.
Renetec specializes in the development of solar park projects, including land acquisition and securing electrical connection points. The company's portfolio includes several 10-20 MWp solar projects nearing Ready-to-Build (RTB) status, making them commercially viable. All projects are strategically located near electrical grid connection points and include the necessary permits and agreements.
During the year Renetec intends to expand its development portfolio to include Battery Energy Storage System (BESS) projects. The BESS installations can either co-locate with the solar parks or be fully independent sites with their own electrical grid connection points.
"Renetec's business sits at the core of Dovre Group's strategy. Its employees are experts in renewable energy project development, and I am proud to welcome them as an integral part of the group. Many of the company's projects will reach construction readiness in the first half of the year, and we are eager to explore opportunities to hand them over to new owners for implementation", says Sanna Outa-Ollila, Acting CEO of Dovre Group.
For further information, please contact:
Sanna Outa-Ollila
Acting CEO, Dovre Group Plc
Tel. +358 20 436 2000
sanna.outa-ollila@dovregroup.com
Dovre Group is a provider of renewable energy project development and construction projects in wind, solar, battery energy storage systems and heat pump facilities in the Nordic countries through Group companies Suvic Oy and Renetec Oy. In addition, Proha Oy provides project management software with related services and eSite provides industrial virtual reality services. The estimated sales for the Group in 2024 are 88-93 MEUR and it employs approximately 200 people. Website: www.dovregroup.com
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