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Experts in the development of PV projects with extensive international presence

The anticipation in identifying opportunities in new markets, as well as the agility in strategic decision making has allowed to participate directly in the development, construction, operation and financing of more than €1,000 million of PV assets in 4 continents, which implies more than 350 MWp.

In a changing and dynamic environment, which affects renewable energies, we continue to rely on the early identification of business opportunities (“early stage”) as well as on the agility of decision making as growth levers.

Our working method is based on customer orientation through excellence in the execution of projects with a focus on continuous improvement, transparency, agility and proximity. We are proud of our work as we contribute directly to the sustainability of the planet.

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More than
MwP built
solar energy
More than
MWp in development
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A team of more than
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Financed more than
million euros
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From opportunity to reality

2003 - 2004

Two friends considered the foundation of a PV solar energy company


Driven by regulatory change in favour of renewable energies (RD 436 of 2004), the company ImMODO Solar was constituted


Launch of “Houses of Haro Esperanza”. It was developed, designed and built on vineyards owned by the Moya Jiménez family. The Park consists of 8 facilities and a total of 150 kwP

2007 - 2008

Development/promotion of own projects, construction and operation/maintenance, as well as structuring of the financing of more than 50 MWp (for a value close to €400 million) distributed in 16 solar parks throughout Spain. On the other hand, more than 4 MWp were built on roofs in multiple installations throughout Spain.

2008 - 2009

Acquisition of significant participation in the Mexican company ECOS (Energía Control y Optimización de Sistemas S.A de C.V) for the production and commercialization of LEDs. Also, implementation of the first LED lighting project in the periphery of Mexico City.


Entry into the American market through the constitution of a wholly owned subsidiary focused on the development, construction, operation and maintenance of solar plants in the state of California. At the end of 2017, an installed capacity of more than 65 MWp is reached in California (USA).


Alliance with the Indian company Electrotherm Ltd, for the constitution of the joint-venture Electrotherm ImMODO Renewables Limited. Construction of a 15 MWp solar plant in the state of Gujarat, northwest of India. It is the first plant of this size to connect a Spanish company in India with an initial investment of €30m.


Creation of Ric Energy Group. Creation of a subsidiary in India 100% owned by RIC Energy.


Signing of a strategic contract with a local partner in Dubai.


Creation of the subsidiary: Ric Energy Africa 100% owned by RIC Energy.


Start-up of the largest solar PV plant in East and Central Africa with 25 MWp in Kabulasoke (Uganda).


Portfolio of photovoltaic projects for the development of more than 3,000 MWp in Spain. Development of projects in the states of Georgia and New York.

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Facing challenges with energy

We are in a scenario of constant and accelerated change, characterized by a deep transformation of the energy sector with a radical change in the mix towards renewable energies. Moreover, the consumption model has experienced a shift in which customers seek systems to maximize energy efficiency, and in which firms are committed to the responsible use and care of the environment.

Our ambition is to become a reference in the PV energy sector, with a strong position as developers of PV plants, integrating new technologies in our processes at the service of our customers, and with the best team of professionals working in an environment of collaboration and constant adaptation to change, being our engine the illusion for what we do.


In order to achieve this framework of trust, we share values that act as a behavioral compass in our company and are present in every decision we make:


In permanent challenge to reduce the times of execution.


Focusing on improving the efficiency of our processes.


With an open and critical mind, managing complexity, constant learning and the ability to anticipate business opportunities very quickly.


Built from the illusion and passion for what we do.


A competitive environment in which teamwork is fundamental. We continually seek the good of the group over the individual.


Present in every business decision we make.


Working with energy

We have extensive and proven experience in the renewable energy sector. We work together to ensure high quality standards in the execution of our projects with a strong focus on meeting the needs of our customers.

joseluis moya
José Luis Moya has more than 30 years of experience, initially as an executive in the areas of auditing, finance, operations and commercial of FMCG multinational companies and later as an entrepreneur in the renewable energy sector. Fifteen years ago he co-founded ImMODO Solar S.A. and since 2014 he has been the founder and CEO of the RIC Energy Group. PDD by IESE and Master in Senior Management by IE, Bachelor of Business Administration by the University of Alcalá de Henares.
Jose Luis Moya

CEO and Founder

Jonathan Rappe has over 15 years of finance and management experience in the renewable energy sector and over 6 years at RIC Energy Group. Previously, he held the positions of Global Investment Director and Director of Latin American Markets at EcoSecurities, a division of JP Morgan. He holds an MBA from Columbia Business School and a bachelor's degree from the University of Vermont.
Jonathan Rappe


ric rajesh pic
Rajesh has more than 25 years of work experience (more than 15 years of international experience) in finance, strategy and management in different sectors: maritime transport, logistics, oil, energy, infrastructure and technology. With business management experience in over 25 African countries, he now leads RIC Energy Group's business interests in Asia and Africa in the solar, wind and bioenergy segments.
Rajesh Chugh

Asia and Africa CEO

lourdes barea
With experience in the development of financial-administrative functions in companies of diverse sectors as well as in the field of Audit focused on the sector of renewable energies (Deloitte), she joins Ric Energy in May 2018. Graduated in Business Administration at the Faculty of Economic and Business Sciences, attached to the University of Cordoba (ETEA). Master's Degree in Auditing and Higher Accounting from the Universidad Pontificia de Comillas (ICADE).
Lourdes Barea

Chief Financial Officer

marisa gonzale
Extensive experience in management positions in a multinational environment in the Beverages (Seagrams Company) and Insurance (Axa) sectors, specializing in the areas of Strategy and Finance, joining Ric Energy in July 2019. Economist by UAM, MBA by IE Business School, PDD by IESE Business School and PADDB by The Valley Digital Business School.
Marisa González

Chief Investment Officer

jesus lopez defuentes
Jesús de Fuentes has more than 14 years of experience in the renewable energy sector and more than 9 years in RIC Energy Group. Previously, he held the positions of Commercial Director in a company selling PV components generating a turnover in excess of 400 million euros. He holds a degree in Business Administration and General Management from FV University.
Jesús de Fuentes

Chief Business Developer Officer

rafael belinchón
Responsible for the Legal Area in the RIC Energy Group. More than 11 years in legal advice directly related to renewable energy (mainly PV and wind) both nationally and internationally. Much of my professional experience has been developed in leading companies in the sector, such as COBRA (Grupo ACS industrial) or the German multinational CONERGY. Degree in Law from the University of Navarra. Executive Master's Degree in Urban Planning from the Garrigues Study Centre. Opposition to the Judicial Career.
Rafael Belinchón

Chief Legal Counsel

joseluis lires
José Luis Lires has more than 25 years of experience in project management and more than 15 years of experience in the renewable energy sector. Previously, he held the position of Technical Director at Naturgy, where he worked for more than 10 years. MBA in IESE Business School and Industrial Engineer from the Polytechnic University of Madrid.
Jose Luis Lires

Chief Construction Officer

joseluis sevilla
José Luis Sevilla Fernández has more than 10 years of experience in the administration and development of renewable energies, both in the area of management processes and in the field of advice and support in transactions. Partner auditor of accounts, general manager of a company of the real estate sector; advisor of companies of renewable energies and member of PwC.
Jose Luis Sevilla

Special Projects Director