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    Bet Solar, the photovoltaic distributor with a turnover of 200 million and plans to expand into 4 countries


    November 22, 2022 - CE Noticias Financieras

     

      Bet Solar was born in 2015 in the midst of the decline of photovoltaic energy in Spain after the end of the premiums to distribute solar photovoltaic and energy efficiency equipment. In a down market its founder, Borja Pellicer, chose to focus on systems for off-grid isolated supplies, an activity of less volume for more stable. With the development of self-consumption installations, this distributor has multiplied its activity year by year, going from 2.5 million euros in its first year to 52 million euros in 2021.

      A figure that it expects to leave short this year, reaching 200 million euros. And its forecasts for the next financial year again shoot its sales up to nearly 400 million euros.

      "80% of our business today is self-consumption and the rest is isolated installations, where in addition to small installations we have also carried out major projects, such as in Afghanistan with the UN for rural areas," explains Pellicer himself, who has just received the Young Entrepreneur of the Year award from the Association of Young Entrepreneurs of Valencia (Ajev).

      The Valencian company entered Portugal last year and, in view of the strong demand for self-consumption plants, plans to increase both its network and its workforce. "In 2023 we are going to open six points of sale in Spain to be closer to customers," he says. Bet Solar plans to set up these centers in the center and in the north, as well as in Catalonia, the Balearic Islands and the Canary Islands. Its objective is to be able to expand its current capacity, which includes a central warehouse in Valencia with 10,000 square meters and another of 3,000 square meters in Seville. In addition, the Valencian company plans to increase its staff from 62 to 120 people.

      Along with this development in a strongly growing domestic market, Pellicer has also outlined an international plan to enter four more countries with its own subsidiaries: Italy, Poland, France and the United Kingdom. "These are markets where our suppliers want to replicate the growth they have had with us in Spain. We understand that Italy and Poland are the next steps because there is legislation there that drives the sector." His goal is for foreign markets to account for between 10% and 15% in the next few years. "In Spain we are in a sweet moment, but there is still a long way to go," says Pellicer, who believes that the biggest problem is the lack of skilled labor, which is why the company emphasizes training.

      The distributor is also expanding the range of products beyond solar panels and batteries with lines such as electric vehicle charging points or aerothermics for boilers. "Last year battery systems accounted for 5%, this year they are about 14% and in 2026 they could reach 50%," he says.

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