Grenergy Renovables is a developer and Independent Power Producer of renewable energy, mainly photovoltaic and wind energy. It develops, builds and operates its own plants on a large scale. The company was founded in 2007, and is part of the Daruan Group, holding company of investor and entrepreneur David Ruiz de Andrés. Since its foundation, Grenergy has developed and executed close to 100 MW of renewable energy projects, focusing on growing and expanding towards the Latin American market. It currently has one of the most attractive project portfolios in Chile, with close to 400 MW, in addition to more than 600 MW in its portfolio in Mexico, Peru, Colombia, Argentina and Spain.
The flexibility of our business model makes us unique in the industry, being able to profitably exit our projects in all the development stages. This strategy has made us very profitable in Spain during 2011-2014, doubling EBITDA and Net Income every year and allowing us to have a very attractive development portfolio in LATAM, that does not depend on any kind of subsidies or governmental aid. Grenergy has managed to consolidate a business model that is sustainable and has very moderate leverage.
Our IPO to the MAB Stock Exchange in July 2015 marks a very important milestone not only for Grenergy, but also for the Renewable Energy sector in Spain, since we are the first developer of renewable energy projects to go public since 2007.