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Grenergy completes an accelerated placement for 90 million to boost its growth plan in Europe

MADRID, 29 Jun.

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Grenergy completes an accelerated placement for 90 million to boost its growth plan in Europe

MADRID, 29 Jun. (EUROPA PRESS) -

Grenergy has "successfully" completed an accelerated capital increase of 90 million euros to boost its growth plan, as reported to the National Securities Market Commission (CNMV).

The operation, in which the CEO and largest shareholder of the company, David Ruiz de Andrés, has participated with four million euros, represents a "strong" support for the company, allowing it to strengthen its balance sheet and own funds to undertake the investments of the Strategic plan.

Thus, Grenergy has given entry to its shareholder base to new qualified investors, mainly international, as well as important national accounts with an interest in the company's growth prospects.

Citi has acted as 'senior global coordinator' and 'joint bookrunner' and Caixabank, Berenberg and RBC have 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 strengthen its leadership capacity in storage.

Grenergy has already launched its plans to enter Germany, develop solar plants in 2023 and be able to have a minimum of 3 GW of 'pipeline' under development before 2025. This country is designing an accelerated growth strategy for renewables in the face of possible shortage problems that it may face next winter due to its dependence on Russian oil and gas.

As for storage, the company has already launched divisions of this technology in the three platforms where it operates, the US, Latam and Europe. The objective is to make storage an essential element in the energy transition and a fundamental tool for the electricity system.

Keywords:
CNMVGrenergy