Repsol has reached an agreement to acquire 70% of the electricity and gas retailer ODF Energía, strengthening its position in the corporate sector by gaining access to the company’s platform, which has a portfolio of 22,000 corporate clients and a significant track record in the business, the energy company reported.
In this way, ODF Energía will be consolidated in this operation, subject to the usual approvals in this type of transaction, as a new platform within Repsol, while maintaining its identity, management team, and organization.
Based in Seville and operating in Spain and Portugal, ODF Energía relies on an extensive network of partners with whom it maintains a strong relationship. Its value proposition is based on a flexible and customer-centric commercial model, with a strong focus on loyalty as a way to solidify its customer base.
For its part, Repsol takes another step in its growth strategy in the energy customer market in the country, where it already has 2.7 million electricity and gas customers in Spain and Portugal.
Since the acquisition of Viesgo assets in 2018 and its entry into the electricity business, the oil company chaired by Antonio Brufau has been increasing its customer base, both through its commercial strategy and through acquisitions in the sector.
Thus, in 2023, it closed the purchase of 50.01% of CHC Energía, which was then the seventh largest electricity retailer in Spain, or previously acquired Gana Energía, backed by Angels – the investment company of Juan Roig – or the portfolio of 25,000 residential and SME electricity customers from Capital Energy, among other operations.
### STRENGTHENING PRESENCE IN THE ENTERPRISE SEGMENT.
The Executive Director of Customer Strategy, New Businesses, and Digital Customers at the multi-energy company, Luis Santonja, highlighted that the addition of ODF Energía «to the Repsol family will strengthen the presence in the enterprise segment,» opening up «new business and growth opportunities,» allowing to consolidate «the position as leaders in the energy sector in Spain.»
On the other hand, Sergio Palmero, founder and sole administrator of ODF Energía, stated that the retailer has always «defended a model of honest, close, and professional relationship.» «This way of doing things has been key to attracting the attention of a group like Repsol, which shares our vision and provides the necessary impetus to take a qualitative leap without giving up our identity,» he said.
Meanwhile, the General Director of ODF Energía, Manuel Lustres, considered that partnering with a company «of the size and prestige of Repsol is a decisive step» in the trajectory of the retailer, thus boosting the consolidation of its business model and allowing to face new challenges «with greater strength.»
«We will be able to grow and compete better, without losing our essence: closeness, transparency, and an attractive value proposition,» he stated.
FUENTE