TWO of Spain’s best-known and biggest companies are to set up a solar panel venture for homes and businesses.

Oil giant Repsol and telecoms provider Telefonica have agreed to create a 50-50 joint company.

The project will become a reality in a few months once regulatory approval has been granted.

No pricing structure has been announced.

The firms boast that they bring different skills to the table in the joint venture.

Telefonica through its Movistar brand name has over 1,000 shops and a customer base of over 20 million people, while Repsol has its long-standing energy background.

Potential customers will not have to be Movistar subscribers to take advantage of the new supplier.

The new company will have its own management team, and will have specialists covering all customer needs.

That includes pointing out the advantages of solar power and coming up with the best designs and the most suitable installations for each location to ‘maximise savings’ on electricity bills.

A mobile app will be used to control installations to optimise energy expenditure and any other service linked to the solar installation.

Telefonica Spain president, Emilio Gayo, said: “This is a strategic agreement between two leading companies that are pooling their knowledge to build a solid and innovative value proposition, both for individuals and companies.”

“We are looking at connectivity on one hand and, on the other, the installation and management of photovoltaic panels to take advantage of solar energy.”


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