EDP expands in solar energy with acquisition of strategic company in Poland
Soon Energy has more than 25 MWp of solar power installed for business and residential customers in various regions of Poland. Synergies between the companies will allow EDP's current presence in the Polish market to grow fivefold.
EDP will acquire Soon Energy, a distributed solar energy company with a significant portfolio of business customers. The company has more than 25 MWp of solar projects installed across Poland, of which 10 MWp were added just in 2021.
The acquisition of Soon Energy means EDP gains access to a local sales force of around 400 agents and a team that has been specializing in supplying sustainable energy solutions to the corporate sector. Soon Energy recorded revenues of €6 million last year.
This is a key step in the expansion of EDP's commercial operation in Poland, where it has been present since 2020. In 2021, in addition to having consolidated its operational structure in the country and set up a national sales network, the company supplied about 50 GWh of energy to business customers and contracted more than 5 MWp of capacity in solar self-consumption projects with business customers. EDP wants to grow significantly in Poland in the coming years and aims to be one of the leading companies in the distributed solar energy market. This acquisition shows that EDP intends to more than triple its growth next year.
"EDP has set ambitious goals to lead the energy transition, contributing to global decarbonization. The critical path of this ambition involves the construction of large renewable energy farms, as well as strengthening the role of customers as key agents of this transformation. Solar energy will play a decisive role going forward and will help reduce costs for businesses and households, protecting them from energy market volatility. We are committed to major growth in the Polish market and believe that this acquisition is the right step towards realizing our ambition," Vera Pinto Pereira, EDP's executive director, said.
The sale, construction and maintenance of decentralized solar installations is one of the growth areas outlined in EDP's business plan until 2025. By mid-decade, the company aims to have more than 2 GW installed in homes and businesses worldwide and has specialized in creating customized solutions for its customers' needs.
The EDP group recorded a significant growth in the number of customers with solar solutions in 2021, and currently has around 800 MWp of clean energy being produced on business customers‘ premises or family homes.
About EDP Energia Polska
EDP Energia Polska has been operating on the Polish energy market since 2020 and is part of the EDP group. The company provides energy and photovoltaic solutions to businesses. Innovative business models such as Solar-as-a-Service, which allows companies to use a photovoltaic installation without any initial investment, while ensuring price stability throughout the contract term, have helped EDP reach contracted solar capacity of 5 MWp in Poland.
