Spanish renewables developer Ecoener plans IPO

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image: Ecoener Department of Communication

Spanish renewables firm Ecoener has become the latest Spanish renewables company to plan an Initial Public Offering (IPO).

Ecoener said in a statement today (7 April) it hopes to raise up to €200 million (US$237.6 million) in an IPO, and will be listed on the Madrid, Barcelona, Bilbao and Valencia stock exchanges.

The timings for the IPO and admission to the Spanish stock exchanges will be subject to approval from the Spanish Securities Market Commission.

Ecoener has brought online 141MW of installed renewables capacity across 17 projects, around 13% of which are solar PV. It also has 142MW under construction and a development pipeline of 1.5GW across 11 countries. The company said in a statement that any funds raised from the IPO would go towards driving “organic growth” by building out the project pipeline.

Luis de Valdivia, Ecoener’s chairman and founder, said the public listing will give “continuity to the work accomplished to date”, and will reinforce the company’s medium long-term growth strategy.

It is the latest Spanish renewables business to plan a public listing. Solar tracker manufacturer Soltec announced plans for its own IPO last October to raise up to €150 million (US$178.2 million) to capitalise on the solar sector’s accelerated growth in Spain and overseas.

A number of developers have made plans to ramp up their Spanish project portfolios this year. Renewable Power Capital (RPC) launched a joint venture with Benbros Solar to develop and acquire 3.4GW of solar in the country last month, after SonnedixEndesa and Iberdrola all announced project pipelines with hundreds of megawatts of capacity.

Read Next

April 12, 2021
Spanish energy company Acciona has secured shareholder approval for an initial public offering (IPO) of its renewables division, providing a boost for the firm’s plans to reach 6GW of installed PV by 2025.
April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
March 31, 2021
Solar technology company Nextracker has secured a deal to supply 125MW of its NX Horizon trackers to a number of Spanish project sites owned by independent power producer (IPP) Solaria.
March 31, 2021
Renewables investor Cubico Sustainable Investments has completed its acquisition of a European 272MW solar power platform called Grupo T-Solar from I Squared Capital.
March 30, 2021
A round-up of project updates from across the global solar industry, including updates from Israel's Shikun & Binui, independent power producer Sonnedix and UK-based Hive Energy.
March 18, 2021
Solar Balance of System (BOS) solutions provider Shoals Technologies has celebrated a “record year” in which revenues grew 21%, placing various post-IPO targets firmly in its crosshairs for 2021.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021