Genesal Energy is a company with over 26 years of experience in generator set design and manufacture. Its products, manufactured at its plant at La Coruña, are essential in markets prone to electricity grid outages. Its uninterrupted power supply generators can be used either as a primary or a backup source of electricity.
This SME has been present in Mexico since 2014 with a portfolio spanning a number of industries and clients. The financing provided by COFIDES for this project will enable the firm to purchase generator sets to rent to power and construction companies that prefer that option to purchasing the facilities outright.
"Receiving financial support at just the right time enables an SME to quickly scale up its activities when it spots a need"
Julio C. Arca Ruibal, Genesal Energy Strategic Planning and Finance Manager
The company’s Mexican subsidiary was awarded an €800 000 joint venture loan from FONPYME and COFIDES’s own funds. It will invest a total of M€1.6 in the country.
The key to Genesal Energy growth is its local presence, where it detects its clients’ needs and can change to adapt quickly to meet them. The company is presently rendering this same service from its Peruvian subsidiary.
For COFIDES supporting SMEs is particularly important to enable them to broaden their business opportunities. Guaranteeing Spanish SME access to financing is one of the company’s priorities to reinforce their activity abroad and contribute to their successful growth.
Genesal Energy Strategic Planning and Finance Manager Julio C. Arca Ruibal contends that ‘receiving financial support at just the right time enables an SME to quickly scale up its activities when it spots a need. That is how we’ve consolidated our brand on the international market and undertaken a sound endeavour’.
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