The “exasperating” slowness of the administrative procedures for the approval of renewable projects is one of the main obstacles that Spain presents for the renewable energy sector. This is stated by Luz Ma, executive director of Chint Energy, the Barcelona-based Spanish subsidiary of Chint Group (the Chinese giant global provider of smart energy solutions), who is convinced that “Spain could be a European leader in the production of renewable energy.” ” If it is proposed.
At least that’s what the company believes, which was created in 2011 precisely to bring cutting-edge technology from China in terms of solar panels and inverters and to focus on a country of sun and wind “with enormous untapped potential.”
Chint Energy, 49% owned by Chint Solar (another branch of the Chint group focused on photovoltaic modules with a presence in Spain since 2006) and Luz Ma’s family company, MIGO Corporation (51%), also dedicated to renewables, invoiced 22 million euros last year providing around 350,000 solar panels. “The company focuses on large-scale projects – the so-called solar fields or parks – and has sold 200 megawatts of solar panels in Spain in the last year,” says Luz Ma. A minuscule amount compared to the 20 billion dollars annually of Chint Group, but with significant growth potential in recent years. From 2022 to 2023, the company grew by 22.8% in turnover, and from 2021 to 2022, no less than 78%, although it is true that it was based on very low figures. “Our forecasts are to invoice around 32 million euros this year and between 45 and 50 million next year,” predicts Jordi Carboner, company director. In short, go from a current market share of 5% to 15% in the next two years.
To this end, they will open a new office in Madrid in May, to focus on the after-sales service and maintenance required by solar inverters, Chint Energy’s second line of business, which together with storage batteries are the new segment in which it wants to bet. company. This will make them grow to 30 direct workers, mostly engineers, but according to Ma, agreements will also be closed with two companies to subcontract technical services in Barcelona and Seville.
Chint Energy’s plans are to become the third largest supplier of photovoltaic inverters in Spain, behind Huawei and Sungrow. In terms of solar panels, the market is much more polarized and there is more competition when it comes to positioning.
Despite all these plans, the company is aware of the instability of the renewable energy market, very subject to political changes, which “makes long-term planning difficult for companies.” “This is a quite risky sector, because one day there can be a lot of demand, and the next year there can be an impressive drop, as happened last year,” analyzes Luz Ma. “Our group, unlike other companies in the renewables, can amortize these ups and downs much better because at a global level (at the Chint Group level) we have other group products that allow us to have that financial stability,” concludes the executive director of Chint Energy, with more than 20 years of experience. in the sector and acting as a bridge between Spain and China.
