HOUSTON, Jan. 10, 2022 (GLOBE NEWSWIRE) -- 547 Energy International LLC (“547 Energy”), the clean energy investment platform of Quantum Energy Partners (“Quantum”), today announced that it has formed NetOn, a renewable energy development platform focused on the development and operation of self-consumption energy projects for commercial and industrial (“C&I”) customers throughout southern Europe. NetOn is led by Alberto Martin, a leading executive in the clean energy industry, and will be based in Spain. The NetOn platform is already fully operational across the country with a strong and experienced local team, offices in Madrid, Bilbao and Barcelona, and a solid network of engineering and commercial partners.
NetOn is well-positioned to capture the accelerating market for self-consumption of clean power. Self-consumption projects generate power from renewable energy sources connected directly to customers, allowing them to offset power purchases from their load serving entities and save on their electricity bill while enhancing the reliability of their energy supply. These projects bring the added benefit of aiding end-consumers in meeting their decarbonization or emission reduction targets, creating immediate impacts for customers’ double bottom line. NetOn, which focuses on serving the C&I market segment, will deliver comprehensive self-consumption solutions, which include the financing, installation, and operation of renewable energy facilities. Under NetOn’s business model, customers will not have to bear any investment costs associated with renewable installations, meaning no increased capital expenditures, yet will receive a stable, green, guaranteed long-term electricity price that will drive substantial savings on their electricity bills.
Alberto Martin, CEO of NetOn, has more than 25 years of experience in the energy industry, both in consulting as partner in charge of Energy for Spain at McKinsey and KPMG, and at Endesa, where he was CEO of Endesa France and SVP of International Business.
Gabriel Alonso, Founder and CEO of 547 Energy said, “Alberto Martin and the NetOn team have assembled a first-class group of renewable energy professionals, and we are excited to partner with them to expand the suite of clean energy product offerings available to commercial and industrial power consumers in southern Europe. In a time when power prices are challenging the profitability of many established businesses, clean energy offers not only a greener alternative for power consumption, but also provides immediate and material cost savings for a range of potential customers, which can create real competitive advantages for consumers over the life of the assets. Alberto is a proven, execution-focused clean energy executive, and 547 Energy is looking forward to being a partner to the NetOn team and their future customers across southern Europe.”
“We are delighted to collaborate with Alberto Martin and his team to help NetOn establish a meaningful presence and accelerate its growth in the European distributed and sustainable energy market,” said Wil VanLoh, founder and CEO of Quantum Energy Partners. “NetOn’s renewable offering will provide C&I customers across Europe strategic access to low-cost clean power to drive their operations, which is a critical step forward for the global energy transition.”
Alberto Martin, CEO of NetOn said, “Our partnership with 547 Energy and Quantum Energy Partners provides NetOn the opportunity to be a meaningful participant in the full-cycle development of commercial and industrial clean power assets across southern Europe. Many countries in southern Europe have strong ambitions for commercial and industrial clean power, and our substantial capital commitment from Quantum through 547 Energy allows us to be a leading player in this growing segment of the renewable energy industry. I am excited to be leading this initiative alongside proven clean energy investors at 547 Energy and Quantum Energy Partners, and our team looks forward to developing projects that will provide economic and sustainability benefits to our customers and the broader communities where we operate.”
Spain’s Self-Consumption Roadmap
In December 2021, the Government of Spain’s Ministry for the Ecological Transition and the Demographic Challenge released the Self-Consumption Roadmap for public consultation, which proposes that the country reach up to 14,000 megawatts (MW) of self-consumption power installed capacity by 2030. Spain and other southern European countries have been proactively removing barriers to developing self-consumption clean energy projects in recent years, and NetOn sees the growth of this industry segment as a critical development in meeting the European Commission’s 2030 climate and energy framework targets. Spain, a core market for NetOn, already has more than 2,500 MW of self-consumption power projects in operation and is primed to become a leader in self-consumption clean power.
About 547 Energy
547 Energy aims to maximize value for its investors by partnering with leading entrepreneurs who are driving growth in the clean energy economy. To date, 547 Energy has invested in ConnectGen LLC, BlueFloat Energy LLC, Aer Soleir LLC, and certain affiliates of ENORA S.A. 547 Energy was founded and is led by industry veteran Gabriel Alonso and is backed by Quantum Energy Partners, a leading provider of capital to the global energy industry. For more information on 547 Energy, please visit www.547energy.com, email [email protected] or contact Travis Salinas at [email protected]
Why the name 547 Energy?
The human eye sees color over wavelengths ranging approximately from 400 nanometers (violet) to 700 nanometers (red), with the green sitting at roughly 490 to 575 nanometers. A wavelength of 547 nanometers is visible as “electric green”, a color which represents the overarching aim of 547 Energy – to advance towards a sustainable energy future.
About Quantum Energy Partners
Founded in 1998, Quantum Energy Partners is a leading global provider of private equity capital to the responsibly sourced energy and energy transition & decarbonization sectors, having managed together with its affiliates more than $18 billion in equity commitments since inception. For more information on Quantum, please visit www.quantumep.com or contact Michael Dalton at +1-713-452-2110.
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