Madrid, November 17
The company announces that its main shareholders will amortize an additional 16.7 million
Yesterday, EiDF announced to the Market the amortization of promissory notes amounting to 3.3 million euros. The main shareholder has expressed its willingness to prepay 11.9 million euros subscribed in September and October and replace it with a convertible loan. Likewise, the main shareholders will subscribe to convertible loans to repay an additional 4.8 million euros before the end of December. With the materialization of all these operations, the short-term debt for issued promissory notes will go from 25.2 million euros to 30 June 2023 to 3.4 million euros as of December 31, 2023. These operations, together with the sale of PPAs, allow the short-term financial debt to be reduced by more than 30 million euros at the end of fiscal year 2024. EiDF Solar continues to advance at a good pace in its action plan, and restructures its short-term financial debt with the early amortization of its promissory notes, thanks to the support of its main shareholders. With this amortization, plus the cancellation of Sinia Renovables' debt also announced yesterday , its short-term financial debt will have been reduced by more than 30 million euros since June 2023. With these actions, the EiDF Group's working capital becomes significantly positive and allows it to face the large photovoltaic self-consumption and generation projects that EiDF has in its portfolio.The efforts of the EiDF team and the support of its main shareholders allow the Group to face the end of 2023 and fiscal year 2024 with healthy financial ratios and with a portfolio of projects that allows great visibility over its growth. future.
Contact Contact name: Patricia Abalo Contact description: Director of communication and marketing Contact phone: 617854893