Copilot Capital buys majority stake in Green Eagle

Copilot Capital has made a majority investment in Green Eagle Solutions, adding the Spanish renewable energy software company to its portfolio.

Madrid-based Green Eagle develops software that automates renewable energy operations. Its main product, ARSOS Automation Suite, launched in 2020 and is designed to automate control-room tasks including fault handling, curtailments and dispatch.

The investment gives Copilot Capital control of a business founded in 2012 by software engineers Alejandro Cabrera and Juan Fernández. Green Eagle says it now has 45 customers, 66 employees and operations in 18 countries.

According to the company, its software is used across 90 GW of wind, solar, battery and hydro assets. It also says more than 10,000 wind turbines operate autonomously through its platform and that it executes more than 1 million automated actions each month.

Growth focus

The investment will support Green Eagle's international expansion, with particular focus on the US market. The company says it has already signed two of the country's largest power producers as customers.

Green Eagle is entering a market shaped by rapid growth in renewable generation and increasingly complex operating conditions for energy assets. Renewable portfolios are combining more technologies, while operators face more volatile power prices and a growing set of regulatory requirements.

The International Energy Agency has forecast that global renewable power capacity will double between 2025 and 2030. That is expected to increase demand for software that can manage larger asset fleets and reduce the manual intervention required from operators.

Green Eagle was built around that need. Rather than offering a monitoring system that still leaves operators to act themselves, the founders developed software that carries out those actions automatically.

Before this transaction, the company had raised external investment once, in 2021. As it expanded, it drew interest from several investors, and the founders chose Copilot Capital after discussions about the next stage of growth.

"When Copilot Capital first got in touch, it didn't feel like another investor testing the water," said Alejandro Cabrera, Co-Founder and 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."

Portfolio expansion

For Copilot Capital, the transaction is the fifth and final investment from its first fund. Its portfolio now spans the Nordics, the UK and Spain.

Its earlier majority investments include Relesys, SecureFlag, PriceShape and Zendr. Copilot Capital focuses on European software and data companies in the lower mid-market.

John Messer, Founder and Managing Partner of Copilot Capital, said Green Eagle fits the firm's strategy of backing software companies with room to expand internationally.

"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 with expertise and growth funding to build out the go-to-market effort, 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."

Part of the investment will also go into further development of data and artificial intelligence capabilities within the ARSOS platform. The software suite also covers asset performance, grid compliance and electrical infrastructure.

Fernández said the founders started the business to reduce the manual burden on renewable operators.

"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."

Messer also linked the deal to the pace of deployment from Copilot Capital's first fund and the firm's broader regional strategy.

"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."