Grenergy, a Spain-based renewable energy developer and independent power producer, has raised up to €170 million (~$196 million) through a green bond issuance on the Alternative Fixed-Income Market (MARF).
Andbank and Banca March acted as lead managers and bookrunners for the transaction. The bond has a maturity of four years and carries a fixed coupon of 5%. The transaction is part of its broader €250 million (~$289 million) green bond program.
The funds will enable the company to strengthen its balance sheet, diversify its sources of funding, and rebalance its debt structure towards longer maturities. It also helps to strengthen its liquidity position, reinforcing the stability required for the development of its medium-term projects.
The company noted that the amount raised exceeds twice the combined total of its previous MARF green bond issuances, which amounted to €22 million (~$25 million) in 2019 and €52 million (~$60 million) in 2022.
David Ruiz, CEO of Grenergy, said,” 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. The backing of investors confirms their confidence in our model, our ability to execute, and a long-term strategy focused on creating sustainable value.”
In February 2026, the company closed a $355 million senior non-recourse financing agreement for its Gran Teno, Tamango, and Planchón projects, which together contribute 398 MW of solar capacity and 1.4 GWh of battery energy storage capacity to the Central Oasis platform in Chile.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, announced debt financing came to $16.1 billion in 2025, 14% lower compared to $18.8 billion in 2024. Securitization deals totaled $3.4 billion across nine deals.
In December, Qair, an independent renewable energy producer, announced the closing of its inaugural syndicated loan totaling €240 million (~$282 million). The loan was concluded with a consortium of 10 leading international banks, with Natixis CIB acting as sole coordinator and documentation agent.
