Rising high over Spain’s Basque Country coast, the sun sparked an enlightening conversation among friends enjoying an afternoon lunch together in 2005. “How can we turn solar energy from a niche, experimental concept into a reliable power source to create a sustainable future for everyone?” they questioned.
This discussion led to more significant development than anyone at that table imagined: one of Spain’s first pure solar photovoltaic, or PV, developers and independent power producers. Seventeen years later, that company – Solarpack Corporación Tecnológica, S.A.U. (Solarpack) – has risen as a leading producer of renewable energy in Spain. And now, it’s undergoing a hypergrowth phase that includes rapid expansion in countries across Africa, Asia, Europe, Latin America, and North America.
“Solarpack doesn’t just want to grow. We’re also committed to building awareness across new regions with different perspectives and understanding of renewable energy. This requires a technological foundation that provides the stability and flexibility to deliver offerings that are part of a global solution for net-zero carbon emissions by 2050,” says Borja Guerrero Echarte, chief digital officer of SolarPack.
Transitioning the Startup Mindset to a Scaleup Mentality
Following its IPO in December 2021, the company came under the ownership of EQT AB, a prominent Swedish investment organization. The voluntary takeover has since raised the bar for environmental, social, and governance (ESG) standards while facilitating Solarpack’s journey toward operational excellence, market leadership, and sustainable growth.
Receiving the latest expertise, proven best practices, and innovative technological resources from EQT, Solarpack became empowered to flourish sustainably. In 2022, the company initiated an organizational review addressing significant growth challenges and developing a new strategy rooted in advancing the transition to clean, affordable energy and creating shared value with a positive impact.
“During the IT capabilities assessment, we realized the company’s tendency to customize systems, use homegrown applications, and allow ad hoc implementations left its cybersecurity vulnerable and operations unable to adapt quickly,” explains Echarte. “The technologies we choose must not only keep up with Solarpack’s growth but also help the business become a global company.”
Working with a combination of experts and solutions from SAP empowered Echarte and his team to rethink Solarpack’s digital landscape. For example, locally developed technologies – including spreadsheets, databases, and other isolated applications – were replaced with a single, unified platform of standardized solutions and value-added customizations. This approach provided the stability the company needed to fast-track its expansion into new regions, such as Germany and the United States.
According to Echarte, this opportunity to stabilize the IT architecture and tailor applications in ways that give a significant advantage over competitors is accelerating Solarpack’s transition from a fast-growing scaleup to a multinational company. “Our business systems can address each country’s unique taxonomy when capturing data, consolidating the information, and complying with various tax requirements – all at the same time,” he states.
Echarte adds that this scaleup engagement enables his team to elevate the user experience. Solarpack’s workforce is better equipped with the right tools, streamlined processes, and easier access to business information. And this is leading to higher productivity, faster outcomes, and more meaningful contributions to business results.
Part of an Ambitious Plan for Our Planet
What began as an idea over lunch has grown into one of Spain’s leading producers of renewable energy. Now with a renewed focus on ESG standards and continuous technology advancement and innovation, Solarpack is on a hypergrowth trajectory that currently includes expanding its presence in the United States.
“Our transformation from a hypergrowth scaleup to a multinational energy provider facilitated a strategic shift in IT capabilities,” concludes Echarte. “Stabilizing our operations and tailoring business systems to meet unique requirements has empowered us to accelerate the realization of an ambitious plan for our planet – a more sustainable, environmentally friendly future for everyone.”
Learn how the GROW with SAP for scaleups program can help prepare your company for exponential growth through Series B to the pre-IPO and post-IPO stages, or visit the scaleups team at Slush23 in Helsinki and register for a one-on-one discussion.
Fran Querol is an account executive for SAP Cloud ERP at SAP.