Asterion partners with Barter Energy for the development of solar communities
- Barter will create shared solar rooftop installations to generate energy for nearby neighbourhoods
- European infrastructure fund Asterion will partner with Barter Energy to create one of the most relevant players in the sustainable energy market over the next years
- Barter Energy is co-founded by Isabel Reija (CEO), Miguel Salís (Vice Chairman), and Martín Varsavsky (Chairman) and will become part of Asterion’s Energy Transition Solutions
29th April 2021 –
Asterion Industrial Partners, an independent investment management firm focused on European infrastructure in the mid-market, has announced today its partnership with Barter Energy. Barter Energy is focused on the deployment of shared solar rooftop installations. This model brings generation much closer to consumption than traditional solar farm deployment models.
Asterion will support Barter on its ambitious business plan to become the Spanish leader in shared rooftop installations. Barter will build solar installations on rooftops to offer cost-effective electricity to nearby customers. In this way, Barter will create solar communities that can access 100% renewable energy without the need of building their own installation. Barter bridges the gap between rooftop owners and nearby consumers who would like access to renewable energy.
Barter’s goal is to integrate electricity generation and demand, as well as integrate additional services in the future, related to electric mobility or energy storage, as they become economically viable, as sustainable energy adoption continues to expand. Barter aims to play an important role in the energy transition in Spain.
Barter’s management team has successfully scaled businesses in renewable energy and electricity retailing. The company has been co-founded by Isabel Reija, CEO of Barter, Miguel Salís, Vice Chairman, and Martin Varsavsky, Chairman. Isabel Reija built Feníe Energía starting in 2010, the company became the biggest independent energy retailer in Spain in 2018 and reached 400k clients and €800m of revenues. Isabel previously worked for some of the largest energy companies in Spain, like Endesa, Unión Fenosa Internacional and Repsol. Miguel Salís is the Chairman of Kira Ventures and was founder and CEO of Eolia Renovables, the largest independent wind and solar PV Company in Spain. He has vast experience in renewable energy, having founded and developed different photovoltaic and wind generation projects in Spain. Prior to that, he was Jazztel’s co-founder and CFO. Martin Varsavsky co-founded Eolia Renovables with Miguel Salís. He also has successfully founded Jazztel, Fon, Ya.com, Prelude, Overture and Goggo Network.
Jesús Olmos, founding partner and CEO of Asterion Industrial Partners, said: “We are pleased to be partnering with the Barter team in their goal to create sustainable local energy communities as part of our Energy Transition Solutions platform. This partnership is aligned with Asterion’s ESG targets, allowing us to support the energy transition through a tangible delivery of renewable energy, achieve a social goal by increasing access to rooftop installations and facilitate communities of neighbors to benefit from savings in energy and other incentives.”
Isabel Reija, CEO of Barter, added: “We feel very proud counting on a partner like Asterion that shares our vision and wants to help us making it a reality. The adoption and use of clean energy are subjects that worry citizens, companies and administrations alike. Barter was born to democratize the access to solar electricity in the local environment, since our mission is to make clean and sustainable energy more accessible and cheaper to our customers. This is the reason why we aim to build shared solar communities focused on the final consumers”.
Mediobanca advised Barter’s founders on the transaction. The legal advice was provided by Uría y Menéndez (Asterion) and Cazorla Abogados and Despacho De Carlos Remón (Barter).
ABOUT ASTERION INDUSTRIAL PARTNERS
Asterion Industrial Partners is an independent investment management firm focusing on infrastructure investments in the European mid-market. Headquartered in Madrid and with presence in London and Paris, Asterion combines transactional and operational experience with an industrial approach and active asset management within an independent and nimble platform. Asterion aims to promote operational transparency, responsible investment practices, best-in-class governance and a strong culture both for itself and in the companies in which it invests.
ABOUT BARTER ENERGY
Barter Energy is an energy startup led by a team that has successfully scaled businesses in renewable energy and electricity retailing. The company has been co-founded by Isabel Reija as CEO and Martin Varsavsky and Miguel Salís as Chairman and Vice Chairman respectively. Barter’s goal is to integrate electricity generation and demand, building energy communities that will access cheap solar electricity. In the future, the company will integrate additional electrical services as they become economically viable.