Sojitz Corporation


Sojitz Enters the Electricity Retail Business in Europe’s Leading Sustainability Markets

– Developing a Power Supply Business Derived from 100% Renewable Energy in Spain and Beyond –

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Sep. 13, 2021
Sojitz Corporation

Sojitz Corporation ("Sojitz"), through its subsidiary Sojitz Europe plc, will underwrite a third-party allotment of shares by Nexus Energia S.A. ("Nexus Energia"), a major Spanish electricity and gas retailer, to become the largest shareholder of Nexus Energia’s business. This investment marks the first of its kind by a Japanese company in Spain’s electricity retail business.

With business operations in Spain, Portugal, and Mexico, Nexus Energia is one of Spain’s top five electricity retailers in terms of annual electricity sales (electricity sales volume in 2020 was 3.8TWh) excluding the five former stated-owned energy utilities in Spain, which is one of Europe’s largest energy markets. Nexus Energia has a strong customer base in business and public administration segments, including government agencies, and the company is distinguished by the fact that 100% of its electricity sales come from renewable sources. It also delivers electricity plan including services to the fans of top professional football clubs. Nexus Energia has increased its sales by more than 20% annually over the past three years, and the company is expected to demonstrate further growth through the capital increase provided by Sojitz.

 【Nexus Energia’s Company Logo】
 【Entrance of Nexus Energia’s Headquater】

Customer needs have continued to diversify under the influence of the European Green Deal and growing environmental awareness. In this climate, Sojitz will leverage the knowledge and expertise it has gained from its many years involved in the development and operation of renewable energy projects both in Japan and overseas, together with Nexus Energia’s extensive customer base and strong sales network in Spain and its established business bases overseas. Through this partnership, Sojitz and Nexus Energia will expand EaaS (Energy as a Service)*¹and BaaS (Battery as a Service)*²businesses—including rooftop solar panels, EVs, related EV charging infrastructure, and energy storage systems—in addition to Nexus Energia’s existing electricity retail business and energy optimization and energy-saving services for customers.

Sojitz aims to grow its electricity and infrastructure businesses to related fields and services and to realize value creation that starts with market needs and provides solutions to social issues as part of its three-year medium-term management plan which began this past April. In recent years, there has been a global move towards decarbonization as well as an acceleration in the liberalization of the electricity retail business, and Sojitz intends to acquire experience in Europe’s electricity retail business, which is a region with markets based on advanced sustainability initiatives. Upon acquiring this know-how, Sojitz plans to develop electricity services that respond to market and customer needs in Japan and greater Asia, particularly rapidly growing regions in Southeast Asia.

*1: EaaS (Energy as a Service): Model in which electricity and gas are provided in combination with other services
*2: BaaS (Battery as a Service): Model in which leasing and sharing services are provided for batteries

[Related Information]

Company Overview – Nexus Energia S.A.

Established 2000
Head Office C/ Consell de Cent, 42 08014 Barcelona
Representative Director Oriol Xalabarder
Main Business Electricity and gas retail; market representation; solar power generation
Number of Employees 191 (end of 2020)


[Trends in Spain’s Electricity Market]
▶Spain is a market where there is a marked tendency for electricity consumers, such as small and medium-sized enterprises (SMEs) and public authorities, to switch their sources of procurement from former state-owned energy utilities to new power companies offering 100% renewable energy, unique services, and added value.
▶In addition, renewable energy has already surpassed fossil fuel-based power to become the most competitive power source in the country due to Spain’s solar radiation and wind conditions, a decline in procurement costs over recent years, and government support.

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