MARF, BME’s Fixed Income market, today admitted to trading a new 30 million euro Commercial Paper (CP) Programme by Grupo Gransolar. Through this new financing instrument, Gransolar accesses BME´s Fixed Income market for the first time to raise funding flexibly over the next few months via CPs, with maturities ranging from 3 days to 24 months.
Banca March and Bankinter collaborate with Gransolar as Placement Entities for the Programme. Banca March will also be the Issuer's Registered Advisor and Payment Agent.
Law firm Pérez-Llorca has provided legal advice on the transaction.
Grupo Gransolar promotes and develops renewable energy generation sources. To this end, it focuses its activity on the construction of photovoltaic solar plants and any other industrial project based on renewable energy generation sources, participating in the development, design, construction and subsequent operation and maintenance stages.
Gransolar has a wide international presence as an EPCM (Engineering, Procurement, Construction & Management) builder, with operations on 5 continents and 17 countries, where it has participated in the development of more than 100 photovoltaic plants with an installed capacity exceeding 2 gigawatts and where it also has an additional 1.5 gigawatts in the pipeline that it will develop in the coming years.
In 2019 Grupo Gransolar posted consolidated revenues totalling 401.4 million euros and an EBITDA of 24.7 million euros.