High energy prices and appetite for independent and clean energy supply are driving the demand for photovoltaic systems and storage throughout Europe. sonnen continues its international expansion plans with the acquisition of Spanish company, WEBATT ENERGÍA.
Wildpoldsried/Barcelona, 02 June 2022 – sonnen has acquired 100% of shares in WEBATT ENERGÍA S.L., one of Spain’s leading companies for photovoltaics (PV) and energy storage solutions. The two companies have an existing relationship, having delivered numerous projects in the Spanish residential and commercial storage market over the last five years together.
Spain is one of the fastest-growing markets for photovoltaics. In 2021, its newly installed PV generation capacity reached 3.8 GW¹, making Spain the second fastest growing European market after Germany (5.3 GW).
The acquisition will allow sonnen to increase its sales figures as well as create additional capacity for future growth.
"We can only achieve our vision of clean and affordable energy if our products and services are used everywhere. Expanding to new markets has always been part of our growth strategy," said Oliver Koch, CEO of sonnen, and added: "We see considerable potential for growth in Spain in the coming years, thanks to ideal climate conditions and increased demand for cleaner and independent energy. Our long-standing relationship and confidence in WEBATT ENERGÍA from years of collaboration facilitated our direct entry into Spain."
sonnen will maintain WEBATT ENERGÍA's current organizational structure in Spain. Franc Comino, CEO and co-founder of WEBATT ENERGIA S.L., said: "sonnen is the perfect partner to drive the development of our business in an exponential growth market. Our partnership will allow us to offer services to even more households and businesses so they can benefit from solar energy and self-consumption. Together, we are helping to accelerate the energy transition in Spain."
The acquisition is pending regulatory approvals and is expected to be completed in the second quarter of 2022. With the acquisition, the unit will operate as sonnen Spain.
Electricity prices in Spain, similar to other parts of the world, have been volatile for several months. The end customer price has more than tripled within a year and currently averages 34.04 cents/kWh (January to April 2021/2022 PVPC average including taxes, REE source²). Households and businesses can reduce their impact from rising electricity prices through self-consumption of solar power and reducing their reliance on grid electricity. The combination of a PV system and energy storage offers the possibility to become mostly independent from fluctuating electricity prices and to supply one's household with clean energy for the most part.
sonnen is represented by its own subsidiaries in Italy, Australia, Great Britain and the USA and the acquisition of WEBATT ENERGÍA adds Spain to its global footprint.