Sonnen has acquired 100% of the shares in Webawatt Energia, one of the leading trading houses in Spain for photovoltaic and electricity storage solutions. The companies have been working together for many years and have jointly implemented numerous projects in the Spanish market.
Spain has become one of the largest renewable energy markets in Europe, with a total of 3.8 GW of newly installed PV capacity in 2021. In Europe, only Germany recorded a higher value in the same period (5.3 GW). Through the acquisition, sonnen will further expand the distribution of Webawatt Energia in particular, creating additional capacity for potential growth.
Considerable growth potential in Spain
"We can only achieve our vision of clean and affordable energy if our products and services are used everywhere. Opening up new markets has therefore always been a firm part of our growth strategy," says Oliver Koch, CEO of Sonnen, adding, "In Spain in particular, we see considerable growth potential for the coming years. Ideal climatic conditions meet people for whom a clean and independent energy future is very important. The long-standing and trustful cooperation with Webawatt Energia has facilitated our direct entry into the Spanish market and is the perfect step to export our technology and achieve our growth targets."
Sonnen will maintain Webawatt Energia's current organizational structure in Spain. Franc Comino, CEO and co-founder of Webawatt Energia explains, „Sonnen is the perfect partner to drive our development in an exponentially growing market. This step will allow us to offer our services to even more households and businesses so they can benefit from solar energy and self-consumption, helping to accelerate the energy transition in Spain."
Electricity prices increased by 200 percent
The acquisition is subject to regulatory approvals and is expected to close in the second quarter of 2022. With the acquisition, the business unit will operate as sonnen Spain.
Electricity prices in Spain have been fluctuating widely for several months. The current retail price in Spain is currently around 34 cents/kWh (PVPC average from January to April including taxes) and has increased by over 200% compared to the same months in 2021. One solution to this is the self-consumption of solar electricity, as it is possible to reduce electricity purchases to a minimum. As a result, the combination of PV system and electricity storage offers extensive independence from fluctuating electricity prices and also significantly reduces the carbon footprint of energy consumption.
Project "La Ballena Alegre"
One of the projects on which both companies have already successfully collaborated is the equipping of the "La Ballena Alegre" vacation resort with photovoltaic systems and Sonnen batteries, thus ensuring a sustainable energy supply there. The project was awarded the prestigious European Solar Prize and the ADAC Camping Award.
In addition to Spain, Sonnen is already represented by its own subsidiaries in Italy, Australia, Great Britain and the USA. (hcn)
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