The Spanish company RatedPower, a pioneer in the design of solar plants, is acquired by the giant Enverus

The energy transition It is one of the challenges of today’s society where innovation and disruption are key elements to successfully face this enormous transformation process. In this context, Spanish entrepreneurship has just taken a qualitative leap that confirms the moment of maturity that companies go through.

The protagonist is the Spanish startup RatedPower, which has just been acquired by Enverus, an energy SaaS company from the United States, an operation that will now allow progress in the solutions needed by the large-scale photovoltaic industry.

RatedPower helps companies discover the smartest way to plan and design solar plants through its software, pvDesignwhich will now be incorporated into the portfolio of solutions for the renewable sector of the North American company.

[RatedPower, la startup que digitaliza el diseño de plantas fotovoltaicas, capta 5 millones para expandirse en EEUU]

The Spanish company led by Andrea Barber, It allows to automate and optimize the feasibility study, analysis, design and engineering of this type of electrical plants and infrastructures in all their stages.

“Today is a good day for our future. It validates the work we have done over the last five years. Our exit validate that the spanish entrepreneurial ecosystem arouses international interest, fruit of the work of business angelfunds, accelerators, institutions, entrepreneurs and startups”, shares Barber.

[La innovación climática, así son las futuras soluciones de alto impacto en esta lucha]

The CEO of the Spanish company hopes that her milestone will serve as a benchmark so that other technology business initiatives against climate change, “well executed and with a certain serendipity”, can become sustainable and profitable business models.

For its part, the current Enverus renewables team has more than 440 clients, mainly in United States and Canada. The addition of RatedPower expands the growing portfolio of products for the solar industry and expands Enverus’ international coverage.

“RatedPower has revolutionized the solar industry”

The acquisition of RatedPower is a success story. Beside Miguel Angel Torrero and Juan Romero, Andrea founded the company in 2017, being profitable from the first moment. In the course of the last few years, they have only raised one round of investment, promoted by Seaya Ventures, the pioneering venture capital fund in technology against climate change.

“RatedPower has revolutionized the solar industry, they are helping their clients discover the potential of photovoltaics. Our common denominator is the firm belief that strategic planning and data-driven decisions are key to being efficient,” he says. Jeff Hughes, CEO of Enverus.

Andrea Barber, co-founder and CEO of RatedPower.

Andrea Barber, co-founder and CEO of RatedPower.

RatedPower employs more than 80 people between engineering, product, business development, marketing and operations profiles. It has 1,400 users worldwide and has contributed to the production of 43 gigawatts of electricity (the equivalent consumption of 22 million homes), helping to mitigate 17 million tons of CO2.

Andrea Barber confesses that talks with the Enverus team started at the beginning of the year. One of his objectives during the negotiation was ensure the well-being and fit of the RatedPower team with the US platform at all levels: vision, product, employees, technology, business model, etc.

job retention

“The entire current RatedPower team will continue in their jobs and we are already 100% part of the group. However, the integration will not be something immediate, simultaneous and homogeneous in all areas of the company”, clarifies the co-founder.

As he explains, RatedPower will retain “enough autonomy during the first years” to gradually “integrate different teams in order of priority (administration, finance, IT, etc),” says Barber. The company’s managers add that the idea is that it affects their daily operations as little as possible.

Other acquisitions

The purchase operation has materialized after a very comprehensive negotiation, parallel to a intense audit process prior to signing the contract. Bernadette Johnson, recently promoted to manager of Enverus’ Renewable Energy division, will oversee the integration of RatedPower and work closely with the founders.

In March 2021, Enverus already acquired Energy Acuity, a leader in power generation and supply market data with expertise in renewables. Since then, he has integrated the tracking and cataloging of thousands of renewable projects, leveraging hundreds of unique data sources in the United States and Canada.

These placement workflows are an ideal combination for complement RatedPower’s area of ​​expertise.

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