The electricity distributor Hello, Luz announced this Friday the acquisition of the renewable energy company Bulb Energy España. This operation will allow the company, which has been listed on BME Growth since November 2019, to connect 23,000 new clients to the firm. During this transition, the power supply of all customers will continue to function normally, says Holaluz.
Last week, the company approved expanding capital at 7.5 million euros to speed up the “Revolution of the Roofs’, designed to promote the installation of photovoltaic solar energy on the roofs of the houses. The operation is in addition to the injection of 11 million agreed last October by the shareholders’ meeting and represents the entry into the capital of the German fund Abacon Invest, with 3.9 million, as well as the increased participation of Plion Greeen Future Alpha, also from Germany (it has been acquiring packages in the market), both specialized in green energy; and MDR Inversiones, owned by the family Moratiel, that already participated in the previous extension.
These operations have been carried out by the company to achieve the financial strength necessary to grow in the implementation of self-consumption and the purchase of marketers. As the company announced last October, “the current situation of price volatility in the electricity market, the result of an erosion of the current energy and environmental model, has caused a global imbalance in the energy sector “. Holaluz considers that it faces the current scenario of energy crisis “from a situation of competitive advantage” to strengthen its position in the market through a business model that it defines as “sustainable in the long term for the planet and society as a whole” .
Bulb Energy offers 100% green energy, is digital and focused on residential customers. It also belongs to the BCorp community of companies, just like Holaluz. All of this makes this operation a suitable alliance in the company’s strategy.