EDP Comercial consolidates entrance into Italy by purchasing solar energy company
The purchase of Enertel strengthens the EDP Group commercial area's internationalization strategy for other European markets. With four million customers in Portugal and 30,000 contracts in Spain, EDP Comercial is now providing energy and solar panels to companies in Italy and Poland.
Through EDP Comercial, EDP has taken another decisive step into the Italian energy market by purchasing Enertel, a company that provides decentralized solar energy self-consumption solutions. The Verona-based company has had a sales volume of €9 million in 2020 and focuses on small and medium-sized enterprises. With the purchase of Enertel, EDP Comercial gains access to a local sales force comprising about 40 agents and a team which has sold more than 350 decentralized solar energy projects, totaling almost 14 MWP, since 2018.
EDP Comercial is thus ramping up its presence in the Italian market, where it first entered in late 2019 with the first energy supply contracts. By 2020 the company had contracts worth 13 GWh of electricity in Italy and had consolidated its presence in that market through decentralized solar energy solutions for business customers. EDP Comercial, which dominates the Portuguese residential market and has been chosen by Portuguese companies as a partner in almost 800 solar energy projects, has already concluded the first self-consumption solar farm agreements in Italy.
"When we decided to internationalize EDP Comercial by expanding our operations to other European markets, we did not want to be just another energy supplier. We want to be a major player in the international market's energy transition and have a relevant position in the solar energy distribution market. The purchase of Enertel is a relevant step for our growth in this strategic market," says EDP Comercial CEO Vera Pinto Pereira.
Decentralized solar energy is one of the main resources listed by European institutions to achieve the goal of reducing the environmental footprint and CO2 emissions, and over the next decade its installed capacity is expected to triple on a global scale. EDP, whose ambition is to lead the energy transition process, is ramping up investment in solar energy production by building and operating its own solar farms, but also by building partnerships with customers who, by producing their own energy, are also reducing their energy bill.
In January, EDP had already announced the acquisition of 85% of a US company of decentralized solar energy solutions, with customers in 16 States. This will also accelerate the growth of the EDP group's presence in solar parks in the United States. In the case of Italy, the EDP group was also already committed to the renewable energies sector, having 271 MW in operation and about 200MW in development through EDP Renováveis.
