Press Releases — Grenergy launches a €250 million green bond programme on MARF

• The company is diversifying its funding sources as part of its plan to support the €3.5 billion investment programme through to 2027 announced at its latest Capital Markets Day.
• It has increased its previous green financing programme by a factor of 2.5 after closing 2025 with record revenues of over €1 billion.

Madrid, March 13, 2026. Grenergy has registered a new green bond programme on the Alternative Fixed-Income Market (MARF) for up to €250 million, the largest transaction of its kind in the company’s history and 2.5 times the size of the previous 2022 programme.

The aim of this transaction is to strengthen the company’s balance sheet and diversify its funding sources through access to the capital markets.

This forms part of the financing plan designed to support the investment programme announced in May last year, during the last Capital Markets Day. In this context, the company plans to allocate €3.5 billion to investments up to 2027.

The funds raised will be used to consolidate its growth and international expansion, with a priority focus on financing storage projects in its pipeline across the various markets in which it operates over the next 24 months.

Banca March y Andbank will act as lead managers for the transaction, whilst Banca March, Andbank and Finantia will act as underwriters. Banca March has been appointed as paying agent. Norgestión has acted as registered adviser on the MARF and Bondholders as bondholders’ representative. The legal advisers were Evergreen, on behalf of the issuer, and Ramón y Cajal, on behalf of the financial institutions.

The programme is backed by Grenergy’s Green Finance Framework, which received in 2021 a Second Party Opinion from Sustainalytics confirming its alignment with the ICMA Green Bond Principles. Furthermore, the company holds a BBB- credit rating, assigned by ETHIFINANCE RATINGS, with a stable outlook.

This transaction follows a record year for the company. In 2025, Grenergy generated over €1 billion in revenue and achieved an EBITDA of €201 million, while executed investment reached €880 million. The company has a battery project pipeline of 72 GWh.

Track record in the green bond market

Grenergy broke new ground in 2019 by issuing the first green bond on the MARF for €22 million. Years later, in 2022, it registered a €100 million programme, of which €52.5 million was ultimately issued, maturing in April 2027. This new programme is 2.5 times the size of the previous one, reflecting the company’s growth and its commitment to diversifying its sources of funding.

About Grenergy

Grenergy is a Spanish multinational clean energy producer. Founded in 2007, it has been listed on the Spanish stock exchange since 2015 and currently has a market capitalization of around €3 billion. The company develops, builds, and operates photovoltaic solar plants and is a pioneer in the energy storage industry.

With a team of over 600 professionals, Grenergy operates across three key regions: Europe (Spain, Italy, Germany, Poland, Romania, and the United Kingdom), North America (United States) and Latin America (Chile, Peru, Mexico, and Colombia). Its global portfolio exceeds 75 GWh of storage capacity and 12 GW of solar power in various stages of development.

Thanks to its strong commitment to battery technology, Grenergy can deliver clean, affordable, reliable, and continuous energy—anywhere, anytime, 24/7.