Spanish solar installer SolarProfit has partnered with Solar360 to expand its presence in the solar self-consumption market.
Under the agreement, SolarProfit will market Solar360 products through its sales team and may also perform specific engineering tasks for related projects.
Solar360, a joint venture formed in June 2022 by Telefonica SA and Repsol SA, provides comprehensive solar self-consumption solutions for residential customers, community groups, SMEs, and large businesses.
This collaboration aligns with SolarProfit’s strategy to work with reputable companies to deliver high-quality self-consumption solutions.
The company noted its goal of offering reliable services to customers “during these challenging times” for the solar self-consumption sector.
The partnership comes amid significant financial challenges for SolarProfit. In April, the company announced layoffs affecting 90% of its workforce following substantial losses and declining demand for solar installations.
According to the Spanish renewable energy association APPA, factors such as reduced European subsidies, higher interest rates, and lower energy prices have dampened the solar boom.
Despite these difficulties, SolarProfit has taken steps to stabilise its operations. In October, the company reached a restructuring agreement with creditors to regain financial footing.
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