Édora, or how to create a large renewables company without real assets in the heat of the 'boom' in the sector

The rush to invest in wind, solar and in a clean energy future It has fueled a sector in which companies emerged until a few months ago completely unknown, and in many cases, with many projects under their arms but nothing real. It is the case of Edora, a company created just two months ago to develop renewable projects, according to the Mercantile Registry, but which is presented to the Spanish market as one of the largest portfolios of projects in southern Europe.

Assures that have 5 GW solar and wind on different stages of development in Spain and others 7 GW outside our borderssAlthough sources close to the company have confirmed to Invertia, it does not have any megawatts built, let alone in operation.

“The enormous movement that exists in the sector is causing the arrival of speculators who see that easy money can be obtained”, explain sources of specialized consultants. “First, the renewable boom heated up the market for access and connection points so much that they were going to pay outrageous amounts to get one.”

“Later that same heat encouraged many unknown companies, some with a small portfolio, others with nothing, to go public to finance themselves. And now there are those who dare to affirm that it is the company with the largest portfolio of projects in the south of Europe. Everyone can make the letter of the wise men “, add the same sources.

“And let’s see what happens as of July 1, when access and connection points are liberalized again“, they point out.

Two months and 12 GW

The Edora Group is a conglomerate constituted by its sole administration Rafael Martin Rueda, a stranger in the sector but which has 158 companies under its belt with 124 positions in more than 100 companies, located between Seville, Madrid, Segovia, Alicante, Toledo, Valladolid.

Economist, account auditor and lawyer, Martin Rueda is the sole administrator of a hundred companies located in Seville for two years specialized in photovoltaic energy or electricity production in general and others in Madrid, Toledo and Valladolid. Neosol Tecnología y Energía, Lured Power, Canopus Energía or Aries Photovoltaic are just a few examples of companies that saw the light, one after another, between May and July 2019.

He began his career in the pig farming sector, but the current CEO of Edora has also made his first steps in the real estate sector, creating in 2008 the promoter Cuezart Tradeuna, in the catering sector with The Gold’s Salsas in El Campello (Alicante) in 1994 or in food with Conservas Froilán in 2001 in Talavera de la Reina (Toledo). It has also been Bankruptcy Administrator of, for example, such well-known companies as the controversial Marsans Travel, thanks to which, as published Vozpópuli in 2016, he pocketed four million euros.

Even if Edora Technology already existed since 2013, was engaged in the retail trade of new items in specialized stores and has not been until two months ago that has led her to Edora Eco System and, along with Edora International Division, They are the companies that will be dedicated to managing the holding companies.

Management team

Martin Rueda has a top-level management team and of professionals with long experience in the sector. The Director of Operations (CCO) is Antonio Aparicio, an executive of the investment vehicle Plenium Partners, which was established in 2014. He manages more than 130 generation plants with an installed capacity of 2.2 GW renewable, between photovoltaic, wind, solar thermal and hydroelectric in Spain, Italy and Portugal.

And as managing partner to Jose Monserrate, who has also been Managing Partner in GMV, a technological business group that offers services consulting and engineering, among other sectors, to the development greenfield of photovoltaic projects in Spain. And also from the unknown Dune Solar, a company created in 2007 without employees dedicated to renewables.

“As of the regulation change in 2019, more favorable to renewable development, an investment fever for international funds began in Spain, and each new company will have to be looked at with a magnifying glass because they all promise but we will see who are those who come to meet their objectives, “conclude the same sources.

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