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Otovo to Buy Green Panel Solar Energy Systems for $11 Million

MT Newswires·08/24/2026 02:07:52
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02:07 AM EDT, 08/24/2026 (MT Newswires) -- Otovo (OTOVO.OL) agreed to acquire Israel-based solar panel company Green Panel Solar Energy Systems for $11 million. Marking its largest acquisition to date, the transaction is expected to boost full-year 2026 revenue by $12.8 million for the Oslo-listed behind-the-meter energy services company, according to a Monday release. The acquisition will be carried out in two parts with long-stop dates of Oct. 15, 2026, and March 15, 2027. It is expected to involve the issuance of $6 million worth of Otovo shares as part of the consideration, and completion is subject to certain preceding conditions.