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.
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Counterparts (7)
Lender
Andbank
company · 2 deals
Andbank is an Andorra-based private banking and wealth management group with over €30 billion in assets under management and a global presence across Europe, the Americas, and Israel. It provides a range of financial services, including asset management and alternative investments, to high-net-worth individuals and institutions.
Finantia
company · 1 deals
Lisbon-based investment bank founded in 1987, specializing in corporate finance, M&A advisory, and project finance across energy and infrastructure sectors. Operates internationally with offices in Europe, Latin America, and North America.
Banca March
company · 2 deals
Palma de Mallorca-based, family-owned Spanish bank founded in 1926, managing €23.9 billion in assets. It provides private banking, wealth management, corporate banking, and asset management services, including financing and investment in infrastructure and energy transition projects, primarily in Spain and Western Europe.
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Deal 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.
- Grenergy launched a €250M green bond program on MARF.
- The program will finance solar, wind, and battery storage projects across Spain, Latin America, and the US.
- Andbank, a lender, manages over €30 billion in assets.
- Banca March, another lender, is a family-owned Spanish bank founded in 1926, managing €23.9 billion in assets.
- Norgestión, the advisor, was founded in Madrid in 1983 and has over 30 professionals.
- Ramón y Cajal Abogados, legal counsel for Grenergy, was founded in 1986.
Source Intelligence
KEY DETAILS
The operation aims to strengthen the balance sheet and diversify financing by accessing capital markets. The program is part of a financing plan to support Grenergy's investment program of 3.5 billion euros until 2027. Funds will be used to consolidate growth and international expansion, with a priority on financing storage projects in its pipeline over the next 24 months. The program is backed by Grenergy's 'green finance framework', which received a 'second party opinion' from Sustainalytics in 2021 confirming its alignment with ICMA's 'green bond principles'.
Quotes: "fortalecer balance y diversificar las vías de financiación de la compañía mediante el acceso a los mercados de capitales"; "El programa forma parte del plan de financiación diseñado para respaldar el programa de inversión anunciado en mayo del año pasado por el grupo de renovables, durante el último Capital Markets Day. En este contexto, la compañía prevé destinar 3.500 millones de euros a inversiones hasta 2027."; "Los fondos obtenidos se utilizarán para consolidar su crecimiento y su expansión internacional, con un enfoque prioritario en la financiación de proyectos de almacenamiento incluidos en su 'pipeline' en los distintos mercados donde opera en los próximos 24 meses."; "El programa cuenta con el respaldo del 'green finance framework' de Grenergy, que obtuvo en 2021 una 'second party opinion' de Sustainalytics confirmando su alineación con los 'green bond principles' de ICMA."
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Deal Size
Grenergy ha registrado un nuevo programa de bonos verdes en el Mercado Alternativo de Renta Fija (MARF) por un importe de hasta 250 millones de euros
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Location
Grenergy ha registrado un nuevo programa de bonos verdes en el Mercado Alternativo de Renta Fija (MARF)
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Financials
programa de bonos verdes de 250 millones de euros
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Announcement
Viernes, 13 de marzo de 2026
PARTIES MENTIONED IN SOURCE
G
Grenergy
borrower
"Grenergy ha registrado un nuevo programa de bonos verdes en el Mercado Alternativo de Renta Fija (MARF)"
B
Banca March
lender
"Banca March y Andbank actuarán como entidades coordinadoras de la operación, ejercerán también de entidades colocadoras, junto a Finantia. Además, Banca March ha sido designada agente de pagos."
A
Andbank
lender
"Banca March y Andbank actuarán como entidades coordinadoras de la operación, ejercerán también de entidades colocadoras, junto a Finantia."
F
Finantia
lender
"ejercerán también de entidades colocadoras, junto a Finantia."
N
Norgestión
advisor
"Norgestión ha actuado como asesor registrado en el MARF"
B
Bondholders
advisor
"y Bondholders como comisario de los bonistas."
E
Evergreen
legal_counsel
"Los asesores legales han sido Evergreen, por parte del emisor"
R
Ramón y Cajal
legal_counsel
"y Ramón y Cajal, por parte de las entidades financieras."
high quality
Enriched Mar 13, 2026
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