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Holaluz acquires OVO Energy Spain Entire Client Portfolio

Holaluz, a green energy technology firm that has been listed on BME Growth since November 2019, announced that it has acquired the OVO Energy portfolio's 6,500 domestic clients.

May 10, 2022. By News Bureau

Holaluz, a green energy technology firm that has been listed on BME Growth since November 2019, announced that it has acquired the OVO Energy portfolio's 6,500 domestic clients.

Holaluz's supply company, which had 386,540 clients at the end of March 31, will benefit from the inclusion of OVO Energy Spain's portfolio.

OVO Energy Spain is a subsidiary of OVO Energy, a UK-based company that is one of Europe's largest independent electricity companies and, like Holaluz, is working to revolutionize the energy sector with greener electricity.

This is the company's third acquisition, which comes eight months after it announced its plan to acquire trading companies as part of its sector consolidation strategy in September.

The first was carried out by Holaluz in December 2021, followed by Fusion Energa in January 2022. The acquisition of OVO Energy Spain is the third in the company's supplier M&A strategy.

This is a step forward in the company's goal of leading the energy transformation toward a distributed generation model that will connect domestic customers to green energy and convert every square meter of a 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 a 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 is a 100% green energy company that is digital and focuses on residential consumers who want to save money on their electricity bills. The clients acquired in this transaction are a perfect fit for Holaluz's goal of altering the present energy model, allowing The Rooftop Revolution to move forward another step.

OVO Energy Group, based in the United Kingdom, is one of Europe's largest independent trading organizations, with more than 5 million consumers worldwide. It has 6,500 clients in Spain who are working to reform the energy sector through clear communication, excellent service, and lower electricity prices.

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