Sunday, October 2

Holaluz after the purchase of Bulb: We hope to recover the 14 euros

Holaluz, the green energy technology company listed on BME Growth since November 2019, has announced the acquisition of the renewable energy company Bulb Energy Spain. This will allow the company to connect 23,000 new customers to Holaluz’s green energy and accelerate the company’s purpose of achieving a planet that moves 100% thanks to green energy. During this transition, the power supply of all customers will continue to function normally.

As explained for Investment Strategies the executive president of the electricity company, Carlota Pi, this operation for supposes for Hello, Luz a unique opportunity to start its strategy of consolidation of the sector through the acquisitions of trading companies in Spain. Bulb España is the first of them. For this reason, and with the aim of achieving the necessary financial agility, Holaluz carried out on November 9 the approval by majority in its Extraordinary Shareholders’ Meeting a capital increase amounting to 11,368,106.96 euros.

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 faces the current energy crisis scenario from a situation of competitive advantage to consolidate its position in the market through a solid business model and with the clear purpose of offering a long-term sustainable solution 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 perfect alliance, taking one more step in the execution of the company’s strategy.

The Rooftop Revolution “has no roof”

Holaluz adds 378,202 clients as of September 30 – growing by more than 27,000 net clients in the third quarter of 2021 – with a representation portfolio of more than 1,630 MW. The Revolution of the Roofs continues to grow, reaching 6,295 facilities managed as of September 30, 2021.

How do you expect this to translate into the stock market? From the company they hope that this operation will suppose an important boost for the price, “it is an operation that, without any doubt, all our investors were waiting for and they will be seeing with very good eyes”, says Carlota Pi, who points out that it is the first step in the company’s integration strategy, in terms of inorganic growth. That is why “we expect an upward trend in the stock market and that we can recover the level of 14 euros per share And we even have expectations that if all goes well, we can get over that ceiling. ”

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