CaixaBank, the first bank in Spain, and EDP, global leader of renewable energies, have strengthened their cooperation agreement to start up specific self-consumption photovoltaic installations for businesses. It is a turnkey solution directed to businesses, self-employed clients, SMEs with a maximum billing of 2 M euros and clients from AgroBank. The commercial package includes everything needed for the businesses to generate their own energy and save up to 50% of the electric consumption on their bill.

Given the intensive use of electricity for the commercial activity of these businesses, electric self-consumption entails the help in a battle against inflation and improves competitivity, apart from contributing to the transition towards a more sustainable energy model.

Thanks to its specialization model in each customers’ segment, CaixaBank is a reference for small companies, as well as for businesses and self-employed. The entity develops products and services adapted to customers’ peculiarities with a close and integral counselling, not only through financial support, but also through the accompaniment in the everyday management. Likewise, through AgroBank, the entity develops a strong commitment with the agri-food sector and the rural world.

A package completely adapted to the customer’s needs

The new commercial package includes the personalized online calculation of the more recommendable dimensions of the installation for the client, with a real-time-budget, as well as photovoltaic panels, the complementary technology needed for its launching and the installation by specialized professional. All the administrative procedures are also managed by EDP. If the installation is eligible to the Next Generation funds of the European Union, CaixBank can also carry out the management.

There is a possibility to hire installations of all dimensions, from a basic package 1.8 kWp till 29.7 kWp. For example, a pack of 35 panels and a voltage of 15.8 kWp, would enable to cover the businesses needs with an average monthly bill of up to 1 000 euros approximately. The average cost of an installation of these characteristics is close to 25 000 euros, but CaixaBank offers different options for a convenient funding.

Customers can access these self-consumption solutions with fundings from 12 months at 0% APR. There is also a possibility of choosing longer periods, till a maximum of 120 months, with a low interest (till end of the year, 3.9% APR). The offer from CaixaBank and EDP entails a total absence of the 3 first months, a period during which the customer won’t have to pay any fees. The commercialization begins online through the Wivai.

Contributing to stop the CO2 emission and the electric bill savings

CaixaBank and EDP have been the pioneers in the field of commercial packages creation with a specific fund to ease the general public’s access to solutions of energy efficiency and self-consumption. Customers benefit from facilities supported by EDP’s experience and technology, and by the financing on advantageous terms given by CaixaBank.

Both companies have as goal to promote until 2025 the commercialization of 100 000 self-consumption photovoltaic installations, number that equals the planting of 9 million trees and that avoids the emission of 150 000 tons of CO2. It would also facilitate an estimated saving of 80 million euros in electricity bills of the clients that install this equipment.

CaixaBank: boosting and supporting the energy transition

Sustainability is one of the three cornerstones of the Strategic Plan of CaixaBank 2022-2024, in which three ambitions are set: boosting the sustainable transition of companies and society, leading the positive social impact and favoring the financial inclusion, as well as promoting the responsible culture, being referents in governance.

The initiative is found within the activity framework of CaixaBank in energy transition. The financial institution has set a series of commitments, including mobilizing 64 000 M euros in sustainable finances until 2024 through solutions and products for individuals and companies. The encouragement of energy self-consumption strengthens the entity’s commitment in its fight against climate change and the promotion of sustainability among customers and society in general, as it eases the access to funding for the use of a renewable and non-polluting energy source, with a beneficial impact in the environment and in the planet.

A firm step in EDP’s strategy

EDP is an energy group, leader in the value creation, innovation and sustainability. It is part if the Dow Jones Sustainability Indexes (World and STOXX) and it is also global leader of renewable energy.

In Spain, where EDP Group employs directly more than 1 550 people, is a referent in the energy market, present in the generation, with almost 5 000 MW of installed power, 1.3 million supply points in distribution and a marketing portfolio to entrepreneurial customers of electric energy, natural gas, and services of consumption of more than 17 TW per year.

The alliance with CaixaBank frames within the Strategic Plan of EDP for the 2021-2025 period, that expects investments for the value of 24 000 million euros in its three main action axes: renewable energy growth, flexibility and intelligence of the electric distribution networks, and the encouragement in designing and offering the most innovative solutions to its customers. This ambitious plan contributes to EDP’s goal of being 100% renewable by 2030.