Brno-based Portiva Group expands into Spain, other countries are also planned

by   CIJ News iDesk III
2023-04-18   11:26

Brno-based investment group Portiva, which deals with renewable resources among other things, is expanding its operations beyond the borders of the Czech Republic. It will start building photovoltaic and wind power plants in Spain. It plans to invest CZK 2 billion a year in the expansion, the company announced. After Spain, it is considering expanding its activities to Italy, Greece or the Central Balkans.

"As a group, we have matured to a size that goes beyond the purely Czech dimension. Our investment appetite in renewables is now such that it is simply not possible to meet it domestically alone," said Pavel Svoreň, the group's chief executive officer. Portiva is currently preparing its first photovoltaic projects in Spain, with a particular focus on the construction of new sources.

"The construction will take place under the umbrella of the Portiva Group and our new investment fund focused on renewable energy development projects, which we are preparing for launch in the first half of this year. We plan to sell electricity from the newly completed projects directly to specific customers through so-called PPA contracts," said Ivo Vojáček, manager responsible for the development of the group's energy division.

By the end of this year, Portiva plans to start operating photovoltaic power plants abroad with a total installed capacity of 10 MW, with another 20 MW of renewable energy sources being built in the Czech Republic. In the following years, the group's expansion is expected to accelerate and reach a pace of around 80 MW of installed capacity per year, which represents an investment of around CZK 2 billion. Portiva will pay for the expansion with its own money and bank loans.

The Portiva investment group focuses on renewable energy, commercial real estate, digital and IT services in the automotive sector and investment funds. The group operates in seven countries in Central and Western Europe. According to preliminary data, the group's assets under management amounted to CZK 11.8 billion at the end of last year, with turnover of CZK 2.9 billion and EBITDA of CZK 639 million.

Portiva Group's renewable energy division now consists of 14 renewable energy plants with a total installed capacity of 30 MW. A part of them is part of the qualified investor fund Watt & Yield, which the group has established.

Source: Portiva Group and CTK