Grenergy has completed a green bond issue of up to €170 million on the Alternative Fixed-Income Market.
The company said the four-year bond carries a fixed coupon of 5% and forms part of a programme of up to €250 million.
It added that the transaction strengthens its balance sheet, diversifies funding sources and rebalances debt towards longer maturities.
The funds will support the company’s €3.5 billion investment plan through to 2027, with a focus on energy storage development over the next 24 months.
Andbank and Banca March acted as lead managers and bookrunners for the transaction.
The amount raised more than doubles Grenergy’s previous MARF green bond issues of €22 million in 2019 and €52 million in 2022.
“This issue strengthens our capital structure at a time of heightened market demands, expands our financial flexibility and gives us the necessary solidity to continue executing our growth plan with discipline,” said David Ruiz, chief executive of Grenergy.
“The backing of investors confirms their confidence in our model, our ability to execute and a long-term strategy focused on creating sustainable value.”