Acciona Energía buys Solideo to boost its self-consumption business | Economy

Acciona Energía on Monday announced the acquisition of a majority stake in Solideo, a photovoltaic energy company that specializes in self-consumption and energy efficiency solutions for residential and small-to-medium-sized business customers, it announced in a statement. “The Solideo business integration gives Acciona Energía access to local businesses and SMEs, with important synergies with the various business divisions of the group,” says Acciona Group’s renewables business.

Created just three years ago, Solideo has achieved a leading position in Catalonia in the autonomous consumption of electricity, with a market share of 20%. The company also offers batteries for storing electricity, charging points for electric vehicles, and thermal air conditioning systems. The company’s business plan envisages launching new business segments such as distributed generation – on a small scale and close to points of consumption – creating solar communities or selling energy.

The self-consumption company began its expansion strategy for the rest of Spain last year, opening offices in Madrid, Malaga and Alicante. Its strategic plan for the coming years is based on its continued geographical expansion to achieve coverage throughout the national territory. In addition to completing nearly 2,400 residential installations in 2022, Solideo provides service to institutional and commercial clients such as the Ministry of Education of the Generalitat de Catalunya, Reus City Council, Sarriá Chemical Institute, Allianz or Veritas, among others.

According to data from the Spanish Photovoltaic Confederation (UNEF), domestic electricity consumption in Spain in 2022 grew to 5.2 GW (+108%), divided between industrial (47%), residential (32%), commercial (20%) and isolated (1%) . The National Commission for Markets and Competition (CNMC) estimates that this type of electricity consumption will reach 15.6 GW in 2025. In addition, the European Union (EU) in May last year approved the so-called European Solar Roof Initiative, which is estimated to be With a proper deployment strategy, this type of technology could meet 25% of the electricity consumption in the European Union.

Last year, Acciona earned €441m, up 33%, driven by its energy business. Acciona Energía, the renewable energy subsidiary of the group led by the Entrecanales family, paid $4,351 million. And the growth of this sector is such that the subsidiary, also listed on the stock exchange, has surpassed the value of its parent company by more than 2,000 million euros.

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