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Tuesday, March 28, 2023
HomeLatest NewsGreening announces its intention to go public to finance its business plan

Greening announces its intention to go public to finance its business plan

Date: March 28, 2023 Time: 08:20:40

Grupo Greening 2022, in which Banco Sabadell has a 10% stake through Sinia Renovables, warms up its engines and announces its intention to go public, specifically, on BME Growth, with the aim of raising between 20 and 23 million euros to finance your business plan. In a statement, it indicates that it will make a subscription offer for newly issued ordinary shares with the aim of obtaining between 20 and 23 million euros through the capital increase.

The company indicates that the definitive details will be known in the information document of incorporation that the company will act in the BME Growth. It intends to request the listing of all its shares, including the new shares, on said market. Greening Group, founded in 2011, specializes in the design, development and construction of self-consumption facilities, as well as large photovoltaic park projects.

It develops its activity in Spain, Europe (Germany, France and Italy), USA, Mexico and Morocco. In addition, the company is specialized in providing energy services such as the generation and sale of renewable energy in its different modalities, and the manufacture of components for the renewable industry.

With the entry of Banco Sabadell, the firm claims to have strengthened its internationalization and investment in generation projects and ‘PPA on-site’. Likewise, it claims to have established prescription agreements where customers, Banco Sabadell companies, are offered the option of installing self-consumption plants in their facilities in the traditional format or under the ‘PPA on-site’ modality.

Until now, Greening has added 200 megawatts (MW) of installed capacity both in industrial self-consumption facilities for third parties and its own, both in traditional modalities and ‘PPA’, carried out over the last few years in Europe and North America.

In addition, it has a portfolio of generation assets that reaches 4,152 MW in ‘utility scale’ modality, of which 196 MW are under development that have reached or will reach the RTB phase during 2023-2024, that is, they are in progress. finalist phase, where the licenses, authorizations, environmental permits, the rights to the land necessary for the construction, operation and evacuation of the plant are already secured.

The funds will be used to finance the strategic plan and accelerate the growth of the company. Through this offer, the company expects to reach more than 10,000 managed photovoltaic self-consumption facilities by 2025, 500 MW of its own in operation, both in utility scale and PPAs and energy communities, as well as 30,000 in submarketing.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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