In the dynamic world of energy solutions, Seville’s ELMYA emerges as a key player, evolving and shaping the future of the sector.
At the forefront of this transformation is José María Píñar, a capable leader whose path from a junior engineer to CEO reflects the journey of evolution and innovation ELMYA has been on. Under Píñar’s leadership, ELMYA, deeply rooted in family values and a legacy of trust, has expanded its horizons, embracing renewable energy and pioneering new technologies.
“The energy sector as we had known it for decades is changing at a pace you wouldn’t believe. But it is an exciting place to be,” says Píñar, acknowledging that there is a lot left in store for ELMYA.
Family legacy
Founded in 1966 in Seville, Spain by two engineering classmates, including Píñar’s late father, José María Píñar Senior, ELMYA’s journey began with constructing electrical switchgear panels. This initial venture quickly expanded, evolving into the installation of these panels and the development of comprehensive low-voltage electrical facilities. By the mid-90s, as large shopping centres became more prevalent in Spain, ELMYA’s expertise extended to carrying out extensive installations in many of these centres.
A significant milestone in ELMYA’s growth was the development of the first Mercadona supermarkets, Spain’s largest grocer. This project not only solidified a lasting relationship with Mercadona but also positioned ELMYA as a leader in the retail sector installation space. This success laid the groundwork for future collaborations with other large multinational retailers such as Carrefour, Decathlon, and Media Markt, further cementing ELMYA’s reputation in the industry.
Beyond the retail sector, ELMYA also played a crucial role in the modernization of Southern Spain’s rural electric power network. The company’s scope of work expanded to include the construction of specialized buildings, notably hotels and hospitals, showcasing its versatility and capability in handling diverse and complex projects.
In 2015, Mr. José María Píñar Senior handed over the helm to his son, producing a generational change in the ELMYA management team and continuing the journey laid out by its founders.
From local to global
In recent years, ELMYA’s doors have been opened to the world, and under Píñar’s guidance, ELMYA has transformed from a domestic installer to an international EPC (engineering, procurement, construction) contractor and project developer, particularly in the renewable energy sector.
This global strategic shift was partially a response to the 2008 financial crisis, prompting Píñar, in a more junior role at the time, to personally lead the company’s expansion. “I went travelling the world to make the global expansion happen,” he recalls, with Italy, the UK and Peru being the first international markets. “When I first joined, I was one of the only people who spoke English. It was even a shift to get us to think about doing business in the north of Spain, let alone the world. I have had to lead by example, spending over 200 days a year travelling with the company for 15 years.”
During the years of expansion, change in the energy sector have been, as Píñar says, “normal”. “Change in the energy sector is now happening rapidly. The world has shifted to renewable energy, and decarbonisation was a globally mutual decision… But we were early and decided to focus on renewables around 2008. It was a difficult decision with a much smaller market then… But in hindsight, it was the correct decision,” he reflects.
Píñar, however, is quick to acknowledge that any company ‘vision’ is just “hard work.” “We had to get to know the industry and then decide where we wanted to be in that industry. You don’t just wake up one day with a vision.”
Since 2008, ELMYA has faced its share of challenges, with the COVID-19 pandemic delivering a particularly harsh blow as the company’s sales plummeted by 60 percent. Amidst this adversity, José María Píñar, only a year into his tenure as CEO, made a decisive move that would reflect the enduring spirit and family-centric ethos of ELMYA founded by his father. Opting to go against the grain, Píñar chose to retain the entire workforce, even at a financial loss—a testament to the company’s commitment to its employees. This bold decision paid dividends, as ELMYA rebounded with remarkable resilience, marking the years 2021 to 2023 as the most successful in the company’s history.
The future
More change is on the horizon too. The energy sector is still moving forward at a rapid rate. “Although we still believe the present is solar, we think the next step is solar with storage, and the future is green hydrogen,” Píñar explains. This forward-thinking approach underscores ELMYA’s commitment to staying at the forefront of the energy sector, continuously exploring and investing in cutting-edge technologies like green hydrogen and battery storage. ELMYA’s expansion plans are not confined to technological advancements alone. The company is still setting its sights on broadening its geographical footprint, with a particular focus on Europe and the United States. “Our goal as ever is to expand development and EPC and concentrate on Europe and potentially the US,” states Píñar. However, entering the US market presents unique challenges due to its diverse regulatory landscape. “It is more like 50 markets with every state having a different regulation,” he notes, highlighting the complexity of adapting to varying local regulations.
Despite these challenges, ELMYA’s growth strategy remains robust, characterised by a conservative fiscal approach and a commitment to maintaining family ownership. “We take on no debt and plan to maintain ownership of the company,” Píñar affirms, reflecting the values typical of a family-run business. This strategy has enabled ELMYA to navigate market complexities while fostering a culture of trust and investment in people, setting the company apart from its competitors.
Under his leadership, these principles have been pivotal. “Our approach is always to be honest, to fulfil our promises, and to build trust,” Píñar states, emphasizing the importance of these values in every business interaction. This approach has fostered lasting relationships with clients and partners, contributing to ELMYA’s reputation as a reliable and ethical company in the energy industry.
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