Holaluz acquires the client portfolio of OVO Energy Spain – EQ Mag Pro

The acquisition of the client portfolio of OVO Energy Spain allows Holaluz to support the growth of its supply portfolio adding 6,500 domestic customers to its current base of 386,540 customers as of March 31. Holaluz grows its client portfolio alongside a company with a common purpose: both Holaluz and OVO Energy Spain want to transform the world, promoting a change in the energy model for the benefit of the planet and society as a whole.

This operation forms part of the company’s M&A plan announced last September which aims to consolidate the energy sector. The acquisition of the client portfolio of OVO Energy Spain is the third operation on the supply side of the business, after two other additions in December 2021 and in January 2022.

● OVO Energy Spain is the spanish subsidiary of OVO Energy. Headquartered in the United Kingdom, OVO Energy is one of the largest independent electricity companies in Europe with more than 5 million customers globally. It was created in 2009 with the aim of transforming the energy sector through clear communication, impeccable service, and cheaper electricity.

Barcelona, May 9, 2022: Holaluz, the green energy technology company that has been listed on BME Growth since November 2019, today announced
the acquisition of the 6,500 domestic clients of the OVO Energy portfolio. The addition of OVO Energy Spain portfolio further supports the growth of Holaluz’s supply business, which, at the end of March 31, encompassed 386,540 customers.

OVO Energy Spain is the spanish subsidiary of OVO Energy, a UK based group, which is one the largest independent electricity companies in Europe and, like Holaluz, works to transform the energy sector with greener electricity.

This third acquisition takes place eight months after the company’s announcement last September of its plan to acquire trading companies, as part of its sector consolidation strategy. Holaluz executed the first one in December 2021 followed by Fusiona Energía in January 2022. OVO Energy Spain is the third in the company’s supply M&A plan.

This represents a further step in the green energy technology company’s goal of leading the energy transformation towards a model based on distributed generation that will create the most impactful green energy community in southern Europe by connecting domestic customers to green energy and transforming every square meter of rooftop into 100% green
energy.

“We face the current context of an energy price crisis as an opportunity to position ourselves as a consolidating player in the sector. Our unbeatable strategy will allow us to accelerate our purpose of creating a planet that runs by 100% green energy through a value proposition based on the combination of two businesses that make each other unique: connecting people to green energy and transforming every m2 of rooftop into a green energy producer through The Rooftop Revolution. In the end, a flywheel powered by our clients’ trust”, said Carlota Pi, co-founder and CEO of Holaluz.

OVO Energy Spain offers 100% green energy, is digital and is focused on residential customers offering savings on their electricity bill. The clients acquired in this transaction are a perfect fit for Holaluz’s objective of transforming the current energy model, thus taking another step forward in the execution of The Rooftop Revolution.

Headquartered in the UK, OVO Energy group is one of Europe’s largest independent trading companies with more than 5 million customers globally. In Spain, it has 6,500 clients aiming to transform the energy sector through clear communication, impeccable service, and cheaper electricity.

The Rooftop Revolution has no limit

On April 29, Holaluz announced its 2021 financial results and the results for the first quarter of the year, where the company has managed to reach 7,023 installations. These figures confirm that the perspectives for solar are better than ever and consolidate the Rooftop Revolution as the solution to the current electricity price crisis and the fight against climate change.

Holaluz understands the present price volatility in the electricity market as a unique opportunity to lead the energy transition and activate its consolidation strategy.

In this sense, in January the company finalised the acquisitions of the companies installers KATAE Energía (Lleida), Gestión Hidráulica Canarias (Tenerife) and Serna Energía (Alicante) with the goal to strengthen Holaluz’s leadership position in the photovoltaic segment for domestic customers in Catalonia, the Canary Islands and Levante. In addition, between December 2021 and January 2022, Holaluz reinforced inorganic customer growth with two trading companies acquisitions; a plan that is now being complemented with the acquisition of OVO Energy Spain client portfolio.

About Holaluz

Holaluz has the goal of a world powered by 100 percent green energy. This objective is advanced by persuading people to switch to a green energy plan made with 100 percent renewable energy. On average, Holaluz clients can make savings of 10 percent thanks to the intensive use of technology and a people focused business strategy which promotes a trusting relationship with clients.

Created with the conviction that companies can be tools to change the world, Holaluz leads the transformation of the Spanish energy sector with a commitment to the new model of distributed generation. It is a wellmanaged firm capable of putting itself on a path to profit. The company is a benchmark not only statistically but also in terms of quality and service innovation.

The Rooftop Revolution offers a solution to rising world energy prices caused by the crisis in the existing energy and environmental model. The Rooftop Revolution offers Holaluz customers the possibility of transforming every square metre of their rooftop into 100 percent green energy, saving up to 50 percent on electricity bills. The programme disrupts the current generation-consumption energy model by converting each square metre of rooftop into distributed generation and creating a large community of domestic energy clients and producers of green energy in Spain.

At the heart of Holaluz’s strategy is the commitment to a new business model which gives employees flexibility and autonomy to carry out their responsibilities in a way that allows for a better work/life balance.

Examples of this approach include goal based tasks and easy scheduling. This holistic business approach has helped Holaluz close in on its target of achieving parity of representation in all areas of the company. This development has come about almost completely organically. (It has only been necessary to apply quotas to the technology team where focus has been applied to gain 100 percent parity.)

Holaluz has a positive impact on its employees, the community, and the wider environment. It was the first European power company to be B Corp certified. This authorisation of social and environmental performance beyond profit is shared with 2,400 other companies in 50 countries. Holaluz is also one of the founding companies of “Capitalism with a Conscience in Spain”, a philosophy that recognises the innate potential for business to
improve the world.

Holaluz’s leadership position in the energy transition has been recognised by Sustainalytics, the world’s leading agency for ESG and corporate governance research and ratings. Sustainalytics places Holaluz at number one in the world in the category of electricity companies.

In the overall reckoning, the Sustainalytics universe, which collates the performance of 13,028 companies, Holaluz was placed among the top two percent of companies. In the utilities category, which compares 446 companies, Holaluz finished second worldwide. In terms of measured risk, Holaluz was apportioned a score of 12 which is “low risk” (scores of between 10 and 20 are considered “low risk”).