January 19 (Renewables Now) - Spanish renewable power retailer Holaluz Clidom SA (BME:HLZ) has acquired three domestic firms specialising in PV installations in an effort to strengthen its urban solar distributed generation (DG) business segment.
The acquisition of Katae Energia, Serna Energia and GHC Instalaciones, based in Catalonia, Valencia and the Canary Islands, respectively, will help Holaluz consolidate its leadership in the PV sector in these regions, the company said.
Financial details of the acquisition were not disclosed. Holaluz said the purchase would increase its installation capacity by 25% and contribute to the growth of its Rooftop Revolution DG business.
Through Rooftop Revolution, the Barcelona-based company offers customers with empty rooftop space free solar panel installation services and energy management in exchange for a monthly discount on their power bills. The goal of the proposal is to transform underused rooftops into green energy plants and promote a DG model in Spain, Holaluz highlights.
The acquisition of the three firms represents the beginning of Holaluz’s strategy to acquire Spanish PV installers, accelerate the vertical growth of its solar business and control the entire end-to-end process, the company said in a statement.
To keep growing in 2022, Holaluz plans to incorporate 50 solar experts and 76 additional installers in Madrid, Seville and coastal regions of Spain during the first quarter. According to the company, the Rooftop Revolution business segment already encompasses 6,295 managed installations, over 378,200 clients and a representation portfolio of over 1,630 MW of solar power as of September 30, 2021.