More and more French startups operating in the energy sector are launching Spanish subsidiaries. Regulations, climate, economy… It is the fruit of a cocktail favorable to their growth which pushes them in this direction. Explanations.
Conducive regulation
Hello Watt, which allows you to track your consumption through an application, has just opened an office in Valencia, reports The Echoes. It follows in the footsteps of Feedgy, a specialist in the renewal of photovoltaic power plants, which has also launched into the Iberian Peninsula. Atawey and Mylight150, respectively developing hydrogen terminals for land mobility and solar energy equipment, are also present in this market.
The photovoltaic panel recycler Rosi Solar is preparing, starting next year, to set up its own industrial site there. This influx of young tricolor shoots towards our southern neighbors is not due to chance. First of all because the climate is, logically, very favorable to renewable energies, particularly solar. However, theThe market is still underdeveloped for photovoltaic panels in private homesoffering interesting opportunities for young startups in the sector. Especially since the tax on solar self-consumption was abolished in 2018.
In addition, the regulatory framework is more advantageous and open than in France, where it is very difficult to penetrate. Added to this are several initiatives put in place by the Spanish government to promote the startup ecosystem, particularly in the energy field.
Thus, the country, fourth economy in the euro zone, aspires to become a major magnet for investment and innovation. It has simplified administrative procedures for foreign investors, and deployed favorable measures aimed at attracting and retaining international talent.
Big ambitions in renewable energies
Spain also has significant ambitions in renewables. The government has set itself the objective of having 81% of its energy mix come from it by 2030..
Likewise, hourly electricity pricing in Spain, where the price per kWh fluctuates every hour depending on the market, creates strong demand for solutions that allow consumers to track and optimize their energy consumption, such as the one proposed by Hello Watt.
Another factor not to be overlooked is the cost of labor, which is lower than in France. The minimum wage is thus set at around 1,200 euros net in the Iberian country. An important element when we know the need to hire locally, particularly for everything related to sales.
- More and more French energy startups are setting up in Spain.
- The market is more open than in France and offers many opportunities, particularly in renewables.
- The Spanish government has recently implemented measures aimed at fostering the startup ecosystem and foreign investment.
