Holaluz and Sungrow join forces to boost residential distributed generation in Spain

• Holaluz already incorporates Sungrow inverters and batteries in its solar installations, but with the signing of this agreement, both companies leap forward to work together in designing solutions tailored to the needs of a new Spanish paradigm with distributed generation at its core.
• Sungrow is the global leader in photovoltaic inverters and energy storage systems. The company, with six research and development centers in Hefei, Shanghai, Nanjing, Shenzhen, Germany, and the Netherlands, has more than 405 GW of installed capacity worldwide as of June 2023.
• The report "The Rooftop Revolution: An Alternative Path Towards Decarbonization" conducted by Holaluz positions residential distributed generation as key to definitively driving the energy transition, with a special focus on the positive impact on families through their active participation.

Barcelona, March 20, 2024. Holaluz, the energy transition company whose purpose is to decarbonize the economy, has signed a strategic collaboration with Sungrow, the world leader in photovoltaic inverters and energy storage systems, aiming toa ccelerate the energy transition in Spain by enhancing the efficiency of residential distributed generation. Sungrow, with six research and development centers in Hefei, Shanghai, Nanjing, Shenzhen, Germany, and the Netherlands, has more than 405 GW of installed capacity worldwide as of June 2023 .

The collaboration between both parties goes far beyond simply supplying Holaluz with Sungrow products for residential solar energy systems. Through the combination of Sungrow's latestgeneration power electronics and its energy storage expertise, with Holaluz's deep market knowledge and solid installation network, both companies are poised to offer innovative solutions and services that will maximize the production of distributed renewable energy and reduce costs for Spanish households. Additionally, this collaboration will include market intelligence initiatives aimed at developing new products and services that meet the Spanish market needs even more, as well as the joint development of technological projects like a Virtual Power Plant, allowing Holaluz to remotely manage solar installations with batteries to maximize savings delivered to its customers and provide renewable flexibility to the electrical system .

Carlota Pi, president and co-founder of Holaluz, stated, "The energy transition is essential and urgent to stop climate change. At Holaluz, we are clear that change comes through empowering the consumer through the distributed generation model. Holaluz manages the energy of more than 14,500 solar installations, and to do so in the most efficient way, technology is key, and Sungrow is an undisputed leader in this regard. To undertake major structural changes in the most efficient way possible, we are very excited to incorporate Sungrow as a partner and walk together towards this future with green and affordable energy for everyone."

Guillermo Donézar, Head of Distribution Southern Europe at Sungrow, stated: "We are delighted to extend our collaboration with Holaluz, which we hope will translate into a series of opportunities. These will further enhance the efficiency of our innovative residential photovoltaic solutions and provide an even greater level of service to Spanish households. We are confident that Holaluz's valuable experience and insights in this field will provide us with significant information that will contribute to our efforts to fulfill Sungrow's mission: 'Clean energy for all'."

By joining forces, Sungrow and Holaluz commit to leading the way towards a smarter and more sustainable energy future in Spain, providing clean energy for all.

Distributed generation and VPPs are key in the energy transition that empowers the consumer

The report "The Rooftop Revolution: An Alternative Path Towards Decarbonization" presented by Holaluz, positions residential distributed generation as key to definitively driving the energy transition, with a special focus on the positive impact on families through their active participation. A photovoltaic self-consumption installation, the most common distributed generation system, allows a family to save an average of €4,220 annually, which can represent 100% of their energy bill while ensuring a lower impact from market price fluctuations.

Despite its potential and positive impact, distributed generation in Spain (7GW) is far from the targets set in the PNIEC (19 GW by 2030), and its penetration in our country (5%) is far from that of countries like Germany (20%), the Netherlands (35%) with much lower performance of installations (-50%). To this data is added that in the year 2023, the residential distributed generation market has fallen 54% compared to 2022, especially due to the rise in interest rates from 0 to 4%. If new installations are not encouraged and this drop is sustained, the PNIEC's goal of 19 GW of distributed generation is at risk.

In this context, Holaluz and Sungrow are key actors in making distributed generation an even more efficient solution through models such as Virtual Power Plants, which allow for the grouping of different sources of distributed energy (such as self-consumption installations, batteries, heat pumps, and electric vehicle fleets) and manage them jointly and remotely. This enables optimization of customers' electricity bills and provides renewable flexibility to the system, allowing for the withdrawal of non-renewable generation plants.

Holaluz and Sungrow: A Common Purpose, Working Towards a Sustainable Energy Model Accessible to All

Holaluz and Sungrow have naturally come together due to a common foundational purpose: to work towards a sustainable energy model accessible to all. To maintain this purpose within the framework of their agreement, both companies have committed to ensuring the traceability of the supply chain with special emphasis on the Environmental Product Declaration (EPD) and the life cycle analysis of products, as well as the traceability of logistics, to reduce the carbon footprint of operations.

Following the principle "Green Mission, Better Life," Sungrow gives great importance to sustainability and promotes it in all its operations. The company has joined RE100 and is developing photovoltaic self-consumption in its facilities to increase its use of clean and renewable energy. Sungrow aims to achieve carbon neutrality at the operational level by 2028, carbon neutrality across the entire supply chain by 2038, and net zero across the full value chain by 2048.

As a globally operating organization, Sungrow values employee diversity and is committed to creating an inclusive workplace with equal opportunities. The company has been awarded several distinctions in Europe and worldwide as a great place to work. Holaluz's ESG DNA and its impact business model demonstrate that it is possible to generate both economic impact and positive outcomes for the planet and people. Since its foundation, the company has avoided the emission of more than 2.7 million tons of CO2e, including 191,966 tons of CO2 avoided in 2023 alone.

Additionally, in December 2023, Holaluz obtained ISO 14000 certification for its environmental management system (EMS) , reaffirming its environmental commitment.

As part of the company's commitment to its customers, Holaluz closed Q4 with the highest score in the sector on Trustpilot - a platform that collects customer reviews - achieving a "Great" rating with 4 stars (4.0 points) .

Holaluz is also committed to equality and diversity. Despite operating in a traditionally male - dominated sector, Holaluz's current workforce is composed of 42% women, while 29% of its board of directors is female . About Sungrow

Sungrow Power Supply Co. Ltd. ("Sungrow") is the largest manufacturer of inverters, with more than 405 GW installed worldwide as of June 2023. Founded in 1997 by university professor Cao Renxian, Sungrow is a leader in solar inverter research and development, boasting the industry's largest dedicated R&D team and a broad product portfolio that offers photovoltaic inverter solutions and energy storage systems for utility, commercial, industrial, and residential applications. This includes internationally recognized floating photovoltaic plant solutions, EV charging solutions, and renewable hydrogen production systems. With a solid 27-year track record in the photovoltaic sector, Sungrow's products supply energy to more than 150 countries around the world. For more information about Sungrow, visit spa.sungrowpower.com.