Tuesday, March 21 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Mar 20
Week of Mar 13
Week of Mar 06
Week of Feb 27
Week of Feb 20
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Greenvolt Energias Renovaveis SA - Greenvolt - Energias Renováveis, S.A. releases institutional presentation

    January 20, 2023 - Euronext Lisbon via PUBT


      Investor Update on Recent Convertible Bond Issuance

      January 20th 2023


      by Nature

      I n v e s t o r U p d a t e o n R e c e n t C o n v e r t i b l e B o n d I s s u a n c e

      Greenvolt is advancing according to the Business Plan

      Greenvolt's Business Plan implementation is on the right track…

      ? Total pipeline of wind and solar PV utility scale of 6.7 MW…


      ? ….of which 2.9 MW reaching at least RtB status by the end of 2023…

      ? ….and 500MW by the end of 2022, of which 346 MW under construction

      in several European geographies

      …executed through new market opportunities


      Very strong market environment with institutional

      push for RES, increasing demand for renewable

      energy projects at Commercial Operation Date



      Current macroeconomic uncertainty is presenting





      • Unique know-how of the industry is enabling continuous efficiency improvement of existing biomass plants
      • Inorganic growth on the way, with significant strategic initiatives under execution
      • Strong focus on organically developing Greenvolt's 3 products: EPCs, PPAs and Energy Communities
      • Greenvolt has been increasing its financial strength tapping systematically the traditional capital markets, with a share capital increase of 100M€ and a retail green bond issuance of 150M€
      • Traditional financing options outside Iberia are mainly non-recourse project finance

      additional interesting business opportunities

      ? New sources of financing will:

      ? Allow Greenvolt to speed up existing

      pipeline growth, taking more projects to

      COD to be sold at a higher premium

      ? Grant enough financial capacity to take

      advantage of potential market

      opportunities within the scope of the

      Business Plan

      I n v e s t o r U p d a t e o n R e c e n t C o n v e r t i b l e B o n d I s s u a n c e

      At least 500MW built or under construction by 2023

      Focus on the development of the current pipeline of 6.7 1 GW, for both the asset rotation strategy and for consolidation of assets

      As of Today

      51 MWp

      In Operation

      149 MWp

      At COD

      346 MWp

      Under Construction

      Short-term Pipeline1 Breakdown

      As of Today


      RTB Construction COD

      12 MW

      152 MW

      91 MW

      100 %





      170 MW

      58 MW



      20 MW

      24 MW



      0.5 GW

      evolves to

      End of 2023

      Including capacity at end 2022

      RTB / COD

      2.2 GW

      26% 9% 65%

      0.35 GW


      0.35 GW

      79% 21%

      2.9 GW


      1 Probability-weighted pipeline capacity, excluding MaxSolar that estimates RTB/COD capacity of 143 MW by the end of 2022, which evolves to 298 MW by the end of 2023

      I n v e s t o r U p d a t e o n R e c e n t C o n v e r t i b l e B o n d I s s u a n c e

      Greenvolt is expanding its financing options beyond its traditional markets and instruments

      Debt profile of Greenvolt1

      Outstanding debt[1]


      Relevant options available in the international financing market

      Project finance4% 26%

      Commercial paper





      • MLT Loans: 33M€
      • Iberian Bonds: 446M€
      • Commercial paper: 73M€
      • Project finance: 198M€

      Equity Linked




      • Despite the low volume in the EQL primary market in 2H2022, the market is reopening and is being tapped by several issuers
      • Bilateral convertible bonds bring several advantages to Greenvolt
        • Long only investor
        • Establishment of a partnership with an entity that perceives Greenvolt as a forefront player in the energy transition with enormous growth opportunities and with the right strategy and market positioning
        • Private investor perceiving the strong intrinsic value of Greenvolt


      1 PRO-FORMASep-22 including 150M€ from Green Bond issuance (Nov-22), 25M€ of bond issuance and 2.5M€ of bank loan. Excluding the 200M€ convertible bond

      I n v e s t o r U p d a t e o n R e c e n t C o n v e r t i b l e B o n d I s s u a n c e

      Partnership with KKR will allow Greenvolt to consolidate its strength and accelerate growth

      Profile of KKR

      • Leading global investment firm, that aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities
      • Long term investor committed to value creation


      Expertise and

      Global Reach

      • KKR is highly committed to the Energy Transition as evidenced by its global c.$14bn investments into the renewable energies segment
      • Greenvolt will be able to leverage KKR global reach and expertise to further enhance growth and explore new business opportunities within the existing strategic framework
      • New board member to be nominated by KKR (and supported by core shareholders) will bring extensive experience and new opportunities




      • Accelerate the Utility Scale business by selling more projects at COD instead of RtB
      • Further expand in DG segment across Europe
      • Opportunistic market opportunities within the Business Plan scope




      • Core shareholders of Greenvolt irrevocably committed to support the transaction at the AGM to be held until May 31st 2023

      This is an excerpt of the original content. To continue reading it, access the original document here.


      Greenvolt Energias Renovaveis SA published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2023 07:14:29 UTC.


    Other Articles - Renewables & Alternative Energy


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.