Copilot Capital has made a majority investment in Green Eagle Solutions, a Spanish software company that automates renewable energy operations, marking the fifth and final investment from Copilot Capital’s first fund. Financial terms of the transaction were not disclosed.
Founded in 2012 by Alejandro Cabrera and Juan Fernández, Green Eagle Solutions develops software designed to automate the day-to-day operation of renewable energy assets.
The Madrid-headquartered company currently operates across 18 countries and plans to use Copilot Capital’s investment to accelerate international expansion, with a particular focus on the U.S. market.
Green Eagle has already secured two of the largest U.S. power producers as customers, providing an initial foundation for its North American expansion.
The company’s flagship product is the ARSOS Automation Suite, which was launched in 2020.
Rather than functioning primarily as a monitoring platform that alerts human operators to problems, ARSOS is designed to automatically detect issues, determine appropriate responses and execute actions across renewable energy fleets.
The platform automates workflows including fault handling, curtailments and dispatch, while providing operators, asset managers and energy traders with visibility across their portfolios.
Green Eagle said this approach reduces the need for continuous manual intervention while helping customers increase renewable energy production, lower costs and risks and manage larger portfolios.
The company currently has 66 employees and 45 customers.
Its ARSOS platform manages approximately 90 GW of wind, solar, battery energy storage and hydro assets across markets including Iberia, Europe, North America, Latin America, Australia and other EMEA regions.
More than 10,000 wind turbines operate autonomously using the platform, while ARSOS executes over 1 million automated actions every month.
Green Eagle has developed five products across its platform: O&M, G&M, APM, CompactSCADA and Substations. These products span areas including fault management, grid compliance, asset performance and electrical infrastructure.
The market opportunity is expanding as renewable energy portfolios become larger and more operationally complex.
Energy companies increasingly manage portfolios that combine wind, solar, hydro and battery storage while also navigating volatile electricity pricing, additional grid requirements and changing regulations.
The International Energy Agency forecasts that global renewable power capacity will double between 2025 and 2030, increasing the need for software capable of automating operations and optimizing performance across increasingly diverse fleets.
Green Eagle’s founders initially scaled the business without outside investment before raising the company’s first external capital in 2021.
The company said it received approaches from multiple prospective investors as the business expanded but ultimately selected Copilot Capital because of the firm’s experience supporting founder-led software companies and its strategy for international growth.
Under the new partnership, Copilot Capital plans to help Green Eagle develop its go-to-market organization, expand internationally and build operational infrastructure capable of supporting a significantly larger business.
Green Eagle also plans to increase investment in data and artificial intelligence to expand the capabilities of the ARSOS platform.
The transaction represents Copilot Capital’s fifth majority investment from its first fund.
Its other portfolio companies are Relesys, SecureFlag, PriceShape and Zendr, giving the firm investments spanning the Nordics, U.K. and Spain.
Copilot focuses on lower middle-market European software and data companies generating approximately €5 million to €15 million in annual recurring revenue, with the goal of supporting companies as they scale toward €50 million in ARR and beyond.
Squire Patton Boggs served as legal adviser to Copilot Capital.
RSM provided financial due diligence, L.E.K. Consulting handled commercial due diligence and Ringstone conducted technology due diligence.
EY advised on tax, Lockton advised on insurance and Arcano Partners served as buyside M&A adviser.
KEY QUOTES:
“When Copilot Capital first got in touch, it didn’t feel like another investor testing the water,” said Alejandro Cabrera, Co-Founder & CEO of Green Eagle Solutions. “They already understood our business, where we sat in the market, and had a real strategy for a company at exactly our stage. That told us this wasn’t just an opportunity to raise capital – it was an opportunity to bring on a partner who could help us get there faster. Together with Juan, I’m excited to keep building the autopilot for renewable energy operations, at a much greater scale.”
Alejandro Cabrera, Co-Founder and CEO of Green Eagle Solutions
“Green Eagle Solutions is the ideal fit with Copilot’s strategy of backing fast growing software businesses and helping them become European software champions and category leaders around the world,”
“The company is the only player in the renewable energy software space offering end-to-end control and automation, and it has already built an impressive international presence. We will help them with the expertise and growth funding to build out the go-to-market, especially in North America – the same formula we’ve used to help other founder-led software businesses scale internationally. We can’t wait to support Alejandro and Juan on that journey.”
“Investing this fund in just three years reflects the conviction we have in backing exceptional founders across Europe. From the Nordics to the UK and Spain, Copilot Capital was built to be genuinely pan-European from day one, and this fund is proof of that ambition.”
John Messer, Founder and Managing Partner of Copilot Capital
“We started Green Eagle Solutions because we believed the energy transition needed more than better tools – it needed the manual, round-the-clock monitoring taken off people’s plates, so they could focus on the decisions that drive even more value,” said Juan Fernández, Co-Founder of Green Eagle Solutions. “This investment gives us the resources to take that vision into new markets, starting with the US, while continuing to grow in Europe.”
Juan Fernández, Co-Founder of Green Eagle Solutions
