• Issues €15 million of mandatory convertible bonds in the first transaction of its kind on the Alternative Fixed-Income Market (MARF).
• The issue has been subscribed by leading Spanish family offices, which will join Ecoener’s shareholder base through the mandatory conversion of the bonds into ordinary shares in 2029.
• The proceeds will be used to strengthen the company’s financial structure and support the execution of its growth plan.
La Coruña, 29 July 2026.- Ecoener has approved the issuance of €15 million of mandatory convertible bonds, marking a milestone for the Spanish capital markets as the first transaction of its kind carried out on the Alternative Fixed-Income Market (MARF).
The transaction is aimed at strengthening the company’s financial structure and supporting the execution of its growth strategy. With 815 MW in operation and under construction, Ecoener has increased its capacity sixfold since its IPO in 2021 and has built a diversified international platform with strong revenue visibility supported by a portfolio of long-term power purchase agreements. In this context, the issuance will contribute to the commencement of construction of 372 MW of solar PV and wind projects, most of which will be hybridized with battery storage systems.
“Ecoener is entering a new chapter in its history from a position of strength. We have built a solid and widely diversified international platform with high quality assets, high long-term revenue visibility and a proven capacity to complete our projects. The bond issue strengthens our financial structure to drive the new projects and capture the opportunities for growth that we have identified”, said Luis de Valdivia, chairman of Ecoener.
Strength of the Business
The transaction reflects investors strong conviction in the robustness of Ecoener’s business model and its long-term value creation potential.
The bonds will be listed on MARF, operated by Bolsas y Mercados, and have been structured as mandatory convertible bonds maturing in August 2029, at which point they will be converted into ordinary shares of Ecoener. The transaction will therefore contribute to strengthening the company’s equity base and overall financial position.
The investors participating in the transaction are leading Spanish family offices with a long-term investment approach and a track record of backing businesses capable of generating sustainable value. Their participation represents a clear endorsement of Ecoener’s strategy, business model and growth prospects, supported by the company’s recent operational and financial performance.
Following the conversion into shares, the transaction will also broaden the company’s shareholder base, increasing its free float and enhancing the liquidity of Ecoener’s shares.
Banca March acted as Global Coordinator and Sole Bookrunner, and will also serve as both the Registered Advisor and Paying Agent for the issuance. Latham & Watkins acted as legal counsel to the issuer, while Roca Junyent advised the bookrunner.