ANNOUNCEMENT 23 Dec 2020
In December 2020, the Official Credit Institute (ICO in Spanish) of Spain announced its investment on Grenergy's project for the construction of a solar plant in Spain.
NUMBER OF INTERVENTIONS
Instituto de Crédito Oficial. Official Credit Institute. Press release. "El ICO participa con 12,9 millones de euros en la financiación a Grenergy para la construcción del parque solar de Escuderos". 23/12/2020. Available at: https://www.ico.es/web/ico/notas-de-prensa/-/blogs/el-ico-participa-con-12-9-millones-de-euros-en-la-financiacion-a-grenergy-para-la-construccion-del-parque-solar-de-escuderos?_33_redirect=https%3A%2F%2Fwww.ico.es%2Fweb%2Fico%2Fnotas-de-prensa%3Fp_p_id%3D33%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26p_p_col_id%3Dcolumn-2%26p_p_col_pos%3D1%26p_p_col_count%3D2
On 23 December 2020, the Official Credit Institute of Spain (ICO in Spanish) announced a EUR 12.9 million (approx. USD 15.7 million) financing on Grenergy for the company's construction of the Escuderos solar park. The operation was handled via AXIS, ICO's venture capital manager with over 30 years of experience.
The project is located in the Altarejos and is already under construction. It is projected to be one of the largest in Spain with a maximum power of 200 MWp and an estimated production of around 385 GWh per year.
According to the press release, Grenergy is a Spanish company founded in 2007. It produces energy from renewable sources (mainly wind and photovoltaic) by covering all project phases (from development, construction and maintenance of the plants). Since 2012 it has an international presence in Latin America and Europe, with operations in Chile, Peru, Argentina, Mexico and Colombia, as well as in Spain and Italy.
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