Repsol and Telefonica create Solar360, a joint venture for solar self-consumption
Jun 13, 2022
- The new company starts operating in the country this June with the aim of leading the self-consumption sector and offering innovative services for private customers, communities of neighbors and companies.
- Customers will produce their own CO2-free renewable electricity obtaining savings on their electricity bills from the very beginning.
Repsol and Telefonica España launched Solar360, a new joint venture to develop the solar self-consumption business. Starting this June, and after obtaining incorporation authorizations, Solar360 will offer a comprehensive self-consumption solution through solar panel installation. Solar360 will serve private customers, communities of neighbors and companies, SMEs, and large companies.
Telefonica brings to Solar360, in addition to the capillarity of its channels and its strength in distribution, its technological capacity and IoT capabilities to provide the installations with a differential connectivity in the market. For its part, Repsol adds its experience in self-consumption and multi-energy in Spain, which makes it possible to offer customers of this new joint venture a specific electricity tariff that complements their solar installation.
With its own management team, the new company combines the knowledge and experience of Repsol and Telefonica España, with continuous customer support. Solar360 will cover all the customer's needs, advising on the design and sizing of the installation, with a turnkey product. It will also resolve any doubts about the operation in the generation of energy, and will manage aid and subsidies associated with the product. The service offered will also include personalized after-sales service and maintenance throughout the lifetime of the photovoltaic installation.
The offer will be available this June and will be customized for each type of customer according to their level and consumption habits, seeking to maximize savings on their current electricity bill. It will include a mobile application for the control of the installation and the continuous optimization of energy expenditure, personalized financing for each type of consumer and other value-added services linked to the solar installation.
Emilio Gayo, Chairman of Telefonica España, said: "Telefonica is committed to being a 100% renewable company and achieving the goal of zero net emissions by 2025. Today, we already use photovoltaic energy in our own centers, and we want to contribute our operational and technological capabilities to guarantee Solar360's customers the best service. We are confident that our partnership with Repsol, the market leader in energy solutions, will ensure our future success.”
According to María Victoria Zingoni, General Manager of Customer and Low Carbon Generation of Repsol: "with Solar360 we are embarking on an exciting journey in a long-standing alliance, the most complete in the market, in which customers can be even more in control of their consumption and feel part of the energy transition, with the support of two major companies."
The logo of the new brand, Solar 360, which combines the corporate colors of Repsol and Movistar, reflects the broad value proposition provided by the alliance of both companies, and opens the door to explore additional opportunities to jointly promote other energy services in the home and businesses.
Repsol has more than 3,800 MW of total installed low-emission generation capacity. The company has close to 1.5 million electricity and gas customers, making it a major player in this market in Spain. Renewable electricity generation is one of the pillars of Repsol's decarbonization strategy and, the installed capacity targets for 2030 were updated to reach 20 GW, an increase of 60% compared to the previous target. By 2025, installed capacity will increase to 6 GW.
Telefonica is one of the world's leading telecommunications service providers. The company offers fixed and mobile connectivity services, as well as a wide range of digital services for individuals and businesses. It is present in Europe and Latin America, where it has more than 365 million customers. Telefonica is a fully private company whose shares are listed on the Spanish stock exchanges and on the New York and Lima stock exchanges.
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