Grenergy launches €250M green bond program on MARF to finance renewable energy and storage projects

Type: Financing · Technology: Hybrid · Country: Spain · Value: $250M · Announced: 2026-03-13

Grenergy launched a €250M green bond program to finance new solar, wind, and battery storage projects. This capital will underpin its expanding pipeline across Spain, Latin America, and the US.

Analysis

Grenergy's €250M green bond program on MARF provides critical capital for its ambitious international expansion, specifically targeting new solar, wind, and battery storage projects across Spain, Latin America, and the US. This financing mechanism allows Grenergy, a renewable energy company focused on developing, building, and operating clean energy projects, to underpin its expanding pipeline with dedicated green capital. The decision to issue green bonds on MARF underscores a commitment to sustainable financing while tapping into a specialized market for unlisted fixed income. Securing €250M through this program enables Grenergy to accelerate project development and construction in key growth regions, directly supporting its operational model of developing, building, and operating clean energy assets. This capital infusion is vital for Grenergy to maintain its competitive edge in the rapidly evolving global renewable energy and storage sectors. The financing saw participation from several key financial institutions, with Andbank, a private banking and wealth management group managing over €30 billion in assets, and Lisbon-based investment bank Finantia, specializing in corporate finance and project finance, acting as lenders alongside Palma de Mallorca-based Banca March, a family-owned Spanish bank managing €23.9 billion in assets. Madrid-based independent financial advisory firm Norgestión, founded in 1983 with over 30 professionals, advised Grenergy on the program. Legal counsel for the borrower was provided by Madrid-based Ramón y Cajal Abogados, founded in 1986, which advises on complex transactions in energy and infrastructure. Evergreen, an investment firm focused on the infrastructure sector, provided legal counsel for the buyers, indicating their commitment to sustainable practices within their investment portfolio. This broad institutional support from lenders like Andbank and Banca March, both with significant assets under management, demonstrates confidence in Grenergy's project pipeline and its international growth strategy across Europe and the Americas.

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