Investment management company Everwood Capital, through its Fund V, and renewable energy company Prodiel Group have teamed up to create DVP Solar focusing on developing large-scale photovoltaic projects.
DVP Solar has projects in Spain, France, Germany, Italy, Colombia and Peru and is currently managing 5GW in grid-connected photovoltaic energy and has a further 2GW in projects at the initial development stage.
It expects to have an additional 3GW in growth in the next few years.
The new company, in which Everwood Capital and Prodiel Group each holds a 50% stake, has been started with the goal of providing a comprehensive response, throughout the value chain, for international growth of photovoltaic solar power, the partners said.
The focus will be particularly on European and selected Latin American markets.
DVP Solar chairman Angel Haro said: “DVP Solar is backed, on the one hand, by the track record and sector knowledge contributed by an entity such as the Prodiel Group, which provides DVP Solar with its development team, and, on the other hand, by the financial capacity and experience in investments and asset management offered by Everwood Capital.”
DVP Solar currently comprises over 70 multi-disciplinary professionals, all with experience in renewable energy, and is managed at executive level by Eduardo Criado (pictured), the chief executive of DVP Solar.
Everwood Capital founding partner Alfredo Fernandez said: “We are strongly committed to making DVP Solar a leading company in developing photovoltaic projects internationally, supported in this venture by an excellent team and the financial resources the company is going to require in this challenge.”