Greenvolt, an energy production from residual forest biomass company, agreed to acquire a 37.3% stake in Solarelit, a commercial and residential photovoltaic systems manufacturer, for €12.5m. “The Italian market presents enormous growth opportunities for us. By acquiring a position in Solarelit’s capital, we can bring our expertise in the distributed generation segment to Lombardy’s business cluster. However, we are confident that the wide reach of Solarelit powered by Greenvolt will enable us to expand progressively throughout Italy and grow in the Mediterranean region,” João Manso Neto, Greenvolt CEO.