Greencells places first €15m of green bond, bags Poland EPC deal

Facebook
Twitter
LinkedIn
Reddit
Email
Greencells employees trialling AR technology at a recent site build. Image: Greencells.

Solar EPC and O&M provider Greencells has successfully placed the first tranche of a secured green bond, raising €15 million (US$17.9 million) to finance a growth push.

Greencells, which first confirmed plans for the fundraise last month, will use the proceeds from the bond to help fund project rights for solar farms with a combined capacity of at least 300MWp, bolstering the project development business of Greencells’ sister entity.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company also confirmed that, pending market conditions, it intends to conduct additional private placements over the coming months, up to around €25 million (US$29.8 million).

Andreas Hoffmann, CEO at Greencells, said the company was particularly confident of future private placements given how the capital market shared its opinion that sector-specific growth prospects for solar are “absolutely intact”.

“For this reason, numerous investors have already given us indications that they are very interested in investing in a somewhat calmer environment.

“We see this continuing interest, together with the placement result, as a clear mandate to consistently drive forward the energy transformation in partnership with our investors, particularly in Europe,” Hoffman said.

Meanwhile, in a further development, Greencells CSO Peter Vest said that the company’s EPC pipeline has grown by a further 250MWp in recent weeks and now stands in excess of 2GWp, equivalent to EPC sales of around €950 million based on 2024 market values.

A tranche of that additional capacity relates to a newly-signed contract with Nordic Solar to develop a 38.5MWp solar portfolio in Poland.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

September 5, 2025
During a week of major US clean energy developments, ContourGlobal, PSE, Arevon, and Ameren Missouri advanced solar projects across four states in the US.
September 5, 2025
Newly formed firm Solaris Assets has acquired the business operations and assets of Texas-based residential solar installer Sunnova.
September 4, 2025
ARENA has launched the second funding round of its AU$1 billion Solar Sunshot programme, making AU$150 million available.
September 3, 2025
US residential solar prices have remained at historic lows in the first half of the year despite market uncertainty and continued high interest rates.
September 2, 2025
Q Energy has reached financial close for Taurus B, a portfolio of seven solar PV plants in Spain with a combined capacity of 251.71MWp.
September 1, 2025
California's solar and storage association has called for US$10 million fines for PG&E and SCE for failing to approve residential solar and storage projects applications quickly.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines