Spanish renewable energy firm Ecoener has announced plans to float on the country’s stock exchanges.
It intends to conduct an offer for the subscription of its newly issued ordinary shares to qualified investors both in Spain and abroad.
The company will then apply to have its shares listed on the Madrid, Barcelona, Bilbao and Valencia stock exchanges and quoted on the Automated Quotation System (Sistema de Interconexión Bursátil or mercado continuo).
The offering and the admission to trading on the Spanish Stock Exchanges, as well as its definitive timetable, are subject to market conditions and to the approval of an EU admission prospectus by the Spanish Securities Market Commission.
Ecoener has more than 30 years of experience in the sector and is a vertically integrated player that directly and wholly carries out, using its in-house professionals, the identification, analysis, design, promotion, development and construction of its projects.
Upon project completion, the company also carries out the operation and maintenance of its facilities, including the active management and optimisation of energy sales.
Ecoener’s chairman and founder Luis de Valdivia (pictured) said: “Over the three decades that we have been generating renewable energy, we have created a different company.
“We are not a pure-play photovoltaic company, nor simply a wind energy company.
“With hydropower technology in our DNA, we are unique in our diversification, both geographically and technologically.
“Thanks to a constant focus on excellence, which is based on our careful selection of projects that deliver appropriate returns, Ecoener today is a company that boasts a profitable, stable and diversified portfolio of operational assets, which we look to expand under these same criteria.
“The potential primary offering and subsequent admission to trading will enable continuity to the work accomplished to date and will reinforce our medium- and long-term growth.”
Ecoener has 141MW of installed gross capacity (116MW attributable) currently in operation, 142MW (142MW attributable) under construction and a pipeline of approximately 1.5GW at different stages of development.
Of this, 22% of Ecoener’s installed capacity is outside Spain, with 16.22MW corresponding to solar photovoltaic plants in Honduras and 14.2 MW corresponding to hydropower facilities in Guatemala.
Over the last 12 years, the company has installed 21% of the total hydropower capacity under 10MW in Spain.