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Repsol acquires renewable power retailer Gana Energía from Angels

Spain-headed oil, gas, and multi-energy major Repsol S.A. (Repsol) has announced that it has acquired a majority stake in compatriot renewable electricity and gas supplier Gaolania Servicos S.L (trading as Gana Energía). Following the transaction, the founding partners remain as minority owners of the company, while investment company Angels Capital S.L.U. (Angels), has transferred its stake to Repsol.

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Repsol S.A. (Repsol) has announced that it has acquired a majority stake in compatriot renewable electricity and gas supplier Gaolania Servicos S.L (trading as Gana Energía). Following the transaction, the founding partners remain as minority owners of the company, while investment company Angels Capital S.L.U. (Angels), has transferred its stake to Repsol.

Founded in 2015 in the Spanish region of Valencia, Gana Energía operates online and offers 100 percent renewable energy. The company entered the Lanzadera startup incubator program in 2018 when it had 12 000 customers, 22 employees, and a gross turnover of EUR 10.5 million.

Today, the company has 37 000 customers, 55 employees, and a turnover of EUR 25 million.

With this acquisition, Repsol reinforces its commitment to a multi-energy customer-centric approach. The acquisition of Gana Energía complements the company’s current value offering and is another piece of Repsol’s commitment to continue creating an energy offering for all households, said Luis Santonja, Director of Commercial Business Development and Customer Strategy at Repsol.

The startup has received the support of Marina de Empresas, an initiative promoted by Valencian entrepreneur and billionaire Juan Roig, before entering the Lanzadera program and, subsequently, receiving EUR 500 000 funds from investment company Angels Capital also owned by Juan Roig.

This transaction is a huge step for Gana Energía to consolidate its position in the Spanish energy market. Becoming part of a large multinational energy group like Repsol is great news for us. I am very grateful for all the support received from Marina de Empresas, said Antonio Picazo, CEO of Gana Energía.

The 2020 financial year was the company’s best year so far, despite the difficult situation of the Spanish economy. This was due to its commitment to digitalization, low tariffs, and placing the customer at the center of its business model.

In addition, Gana Energía entered the natural gas market last September.

With a clear focus on service and customer care, Gana Energía has managed to grow in the competitive power supply market. This operation fulfills the mission of Angels, helping the growth of a company with a great track record in Marina de Empresas where it was accelerated by Lanzadera”, explained Pepe Peris, CEO of Angels Capital.

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