Spain's Grenergy issues EUR 52.5m of green bonds

The Quillagua solar park, Chile. Image courtesy of Grenergy Renovables.

April 5 (Renewables Now) - Spanish renewables company Grenergy Renovables SL (BME:GRE) has issued a EUR-52.5-million (USD 57.5m) green bond programme to strengthen its finances as it prepares to grow its generation portfolio by 2024.

The green notes, issued on Spanish alternative fixed-income market MARF, bear an interest rate of 4% and mature in five years. The latest is Grenergy’s second green bond issue on the MARF following the maiden issuance in November 2019.

The improved financial position will enable Grenergy to continue deploying investments as outlined in its strategic plan, which sees the company reaching 3.4 GW of renewable power generation by 2024, the wind and solar developer said.

Grenergy recently had its rating upgraded to BBB- from BB+ with a stable outlook by credit rating firm Axesor.

(EUR 1.0 = USD 1.096)

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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