Spanish oil and gas major Repsol and telecommunications firm Telefonica have formed a joint venture (JV) to provide solar installs and energy services across different target markets in Spain.
The JV is to offer a “comprehensive” solar offering to home owners, communities and businesses in Spain, including the installation of solar PV and associated energy services.
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The partnership of two of the biggest Spanish companies in their respective markets, will see Repsol provide its knowledge in energy and Telefonica will contribute with its distribution channels and capacity to combine different connected technologies.
By combining the knowledge and experience of both companies, the new entity will have specialists able to offer customer service both before and after the installation of solar panels.
It will provide customers with the installation design that is best suited to their needs or what are the best options in terms of self-consumption and a mobile app allowing the customer to control the install and optimise its energy use.
After passing a major milestone last year with its first PV solar farm in Spain, Repsol is continuing to diversify its energy offering with a portfolio of renewables projects. Last year, Repsol increased its renewables targets following strong business performance, with its latest figures aiming to reach 20GW by 2030.
Emilio Gayo, chairman of Telefonica España, said: “This is a strategic agreement between two leading companies that contribute their knowledge in two fundamental aspects to build a solid and innovative value proposition for both individuals and companies; on the one hand, connectivity, and on the other, the installation and management of solar photovoltaic panels to take advantage of solar power.”