We are in the week of joint ventures. We first learned that Orange and MásMóvil had closed an exclusive negotiation period that would end, if all goes well, in the creation of a joint venture operated 50/50 by both operators. Today we return to the fray with important news after learning that Repsol and Telefónica Spain have created a joint venture to develop photovoltaic self-consumption. In the same way that happened with Movistar and Prosegur, which led to the birth of Movistar Prosegur Alarmas, now the agreement with Repsol will allow the operator to act in another very powerful market such as solar panels and self-consumption.
A few minutes ago we received a statement from both companies announcing that:
“Repsol and Telefónica Spain constitute a company for the development of the photovoltaic self-consumption business, which is in full growth in the country. Once the required regulatory approvals have been obtained, the new company will launch a comprehensive self-consumption solution for private clients, neighborhood communities and companies, both SMEs and large companies, through the installation of solar panels. The agreement opens the door for both companies to explore additional opportunities to jointly promote other energy services in the home and business.”
The offer will be available in a few months
Telefónica will contribute its technological capacity, in addition to its sales and distribution channels. In the case of Repsol, it will put its experience in consumption and in the energy sector in Spain. Overall, they will be able to offer the customer “an exclusive electricity rate that complements their photovoltaic installation”.
At the moment, we know that the offer will be available in a few months. This is because the entire regulatory part must first be complied with. What they have confirmed to us is that it will be “personalized for each type of customer according to their level and consumption habits, seeking to maximize savings on their current electricity bill.”
Among other benefits, we have a mobile application to control the installation (it will also allow us to optimize energy expenditure), personalized financing for each type of consumer and finally, other value-added services that have not been detailed.
Emilio Gayo, president of Telefónica Spain, has pointed out that “this is a strategic agreement between two leading companies that contribute their knowledge in two fundamental aspects to build a solid and innovative value proposition, both for individuals and companies; on the one hand, connectivity, and, on the other, the installation and management of photovoltaic panels to take advantage of solar energy”.
Repsol’s General Director of Clients and Low-Carbon Generation, María Victoria Zingoni, has indicated that “this important association shows the commitment of both companies to the consumer, who increasingly wants to be a part of the energy transition by producing their own energy” .