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Tuesday, May 21, 2024

RyC, Clifford guide Grenergy´s €90m capital increase

Ramón y Cajal Abogados has advised Grenergy on a €90 million capital increase intended to accelerate its growth in Europe and the United States, as well as to strengthen its leadership in storage warehousing, with the banks counselled by Clifford Chance

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Grenergy, the renewable energy producer and specialist in the development, construction and management of photovoltaic, wind and storage projects, has successfully completed a €90 million accelerated capital increase to boost its growth plan, as the company informed to the Spanish National Securities Market Commission (CNMV).

The operation, in which David Ruiz de Andrés, CEO and maximum shareholder of the company, participated with €4 million, represents a strong backing for the company, allowing it to strengthen its balance sheet and equity to undertake the investments of its the strategic plan.

Thus, Grenergy has given entry to new qualified investors, mainly international, as well as major national accounts with an interest in the company’s growth prospects.

Citi acted as Senior Global Coordinator and Joint Bookrunner. Caixabank,
Berenberg and RBC acted as Joint Global Coordinators and Joint Bookrunners.

With this capital increase, the company intends to accelerate its growth in Europe and the United States, as well as to strengthen its leadership in storage warehousing. This boost will support the company’s financing needs to maintain the company’s growth momentum at a time when Europe urgently needs to boost its energy transition with the development of renewables and storage.

Grenergy was advised by Ramón y Cajal Abogados, with a team led by Capital Markets partners Lucía García Clavería and Carlos Lao.

Clifford Chance advised the banks with a team led by Capital Markets partner Yolanda Azanza.

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