Greencells locations initially EUR15m of environment-friendly bond, bags Poland EPC deal

• Solar EPC as well as O&M supplier Greencells has efficiently put the initial tranche of a secured environment-friendly bond, raising EUR15 million (US$ 17.9 million) to finance a growth press.

Greencells, which first validated plans for the fundraise last month, will certainly utilize the proceeds from the bond to assist fund project rights for solar farms with an incorporated capacity of at least 300MWp, bolstering the project growth business of Greencells' sister entity.

The firm additionally verified that, pending market conditions, it plans to carry out additional exclusive positionings over the coming months, approximately around EUR25 million (US$ 29.8 million).

Andreas Hoffmann, CEO at Greencells, claimed the business was especially confident of future exclusive positionings given how the funding market shared its point of view that sector-specific growth prospects for solar are "definitely undamaged".

"For this reason, many investors have actually currently offered us indications that they are extremely curious about purchasing a rather calmer environment.

"We see this continuing interest, together with the placement result, as a clear required to continually drive ahead the energy change in collaboration with our investors, specifically in Europe," Hoffman claimed.

Meanwhile, in an additional growth, Greencells CSO Peter Vest claimed that the company's EPC pipeline has expanded by a more 250MWp in recent weeks and now stands in excess of 2GWp, comparable to EPC sales of around EUR950 million based upon 2024 market price.

A tranche of that added capability associates with a newly-signed contract with Nordic Solar to create a 38.5 MWp solar portfolio in Poland.