PRESENTATION WATCH RECORDING 1H20 FINANCIAL RESULTS DOWNLOAD PDF 2019 SUSTAINABILITY REPORT BUSINESS PLAN WATCH THE VIDEO 2019-2023 BUSINESS FIND OUT MORE DIVISIONS WE CARE ABOUT YOU AND YOURS WATCH CORPORATE VIDEO WE ARE GREENALIA -MEET US- About Greenalia Business divisions Shareholders & investors Sustainability Press Careers LATEST NEWS SUSTAINABILITY GREENALIA CELEBRATES GLOBAL VOLUNTEERING DAY & DONATES PRESENTS TO SUPPORT CARITAS NGO IN ITS YEARLY THREE-WISE-MEN CAMPAIGN05/12/20Greenalia’s staff participates in the NGOs donations and packaging of toys campaign that will deliver toys for families the night before the three-wise-men holiday Greenalia’s Teams celebrates World Volunteering Day gathering presents and volunteering time to package and deliver them for families in need in these challenging times in support of Caritas Coruña Three-Wise-Men yearly Campaign. During the past month, Greenalia’s Headquarter Offices hosted a present delivery spot for gifts and toys to be donated by the people of Greenalia. Apart from this the team will volunteer time to support the package and delivery campaign that the NGO will organize come year end. In this way, Greenalia lends a hand in this final sprint for an unusual and complex Christmas. This initiative falls within the Company’s CSR Strategy and it is the second one focused in aiding families in need the company has effectively executed in a joint effort with Caritas Coruña. The first one was the support given to the Educa Program via a laptop donation initiative to support this program that aims to aid the more vulnerable youth socially and educationally in a specially challenging year marked by the current pandemic. Supporting families, with a special focus on the most vulnerable ones has been a strong highlight of the company’s CSR actions during 2020. Earlier this year the company also supported 5 key municipalities where the company has developed and is developing renewable assets in their back to school support programs. Thanks to the signing of these collaboration agreement with the incumbent municipalities Greenalia was able to donate schooling materials and economic aid to over 5,000 students and their families.... Read more...GREENALIA TEAMS UP WITH THE RED CROSS FOR THE CONFERENCE “RENEWABLE ENERGY: AN EMPLOYMENT OPPORTUNITY”20/11/20Greenalia is working together with the Red Cross on its program “The Red Cross Responds: Live Towards Employment” (“Cruz Roja Responde. Directos hacia el Empleo” in Spanish) a series of online conferences where each week the NGO tackles a different subject related to tools and strategies for employment. To achieve this objective, they work with different professional sectors and they tune in to demands from the employment market. Within this program Greenalia organized a webinar today on “Renewable energies: an employment opportunity”, where we hoped to demonstrate to participants of the Red Cross program the opportunities that the renewable energy sector could offer over the coming years, where there will be a key focus on energy transition and the decarbonization process. This webinar outlined the opportunities provided by the development of renewable energies and the creation of green employment within the framework of the European Green Deal, which includes the objective of making the EU climate neutral by 2050. To achieve this, a roadmap has been established involving actions to promote the efficient use of resources by moving towards a clean and circular economy, to restore biodiversity and reduce pollution. Within this framework, it should be noted that Greenalia currently works with four types of technology—biomass, onshore wind farms, offshore wind farms and photovoltaics—with a strategic growth plan for each of them. Also very important the investment in digitalization and the use of technology to create a more sustainable and impactful business model. Events like the one being held today form part of the company’s CSR policy, making their social responsibility more transversal and more prominent in every area of the company.... Read more...GREENALIA DONATES LAPTOPS FOR CÁRITAS TO SUPPORT THE BACK TO SCHOOL CAMPAIGN OF CHILDREN AND FAMILIES IN NEED04/11/20The Company and the NGO have signed a collaboration agreement through which the company has donated the IT equipment for the Non for Profit Educa Greenalia has donated a set of laptop computers for Cáritas Coruña to support the Educa Program that provides socio-educational support for minors and young people in very vulnerable situations, in a time where the challenge of going back to school gets even harder for some families. With this donation, Greenalia wants to add its contribution to the Educa Program, a specially important one in the current COVID generated context. These programs centered in education and social support have become even more fundamental in the current scenario where families are in special need of support and in particular regarding schooling and education. The donation was delivered by Beatriz Mato, Chief Sustainability and Corporate Affairs Officer, that together with a team of volunteers from the company have visited Caritas Central Office in A Coruña and met Pilar Farjas, the NGOs President. Greenalia pushes through with its focused initiatives on educational and family support all included in its CSR Program, in a very challenging scenario and close to the final birth of the company’s Foundation for the energetic transition. In this way, in the last few months the company has supported more than 500 minors and their families through donations of schooling and sports material and volunteering work.... Read more...GREENALIA JOINS Forest Stewardship Council® (FSC®) International02/10/20FSC was created 25 years ago and promotes environmentally appropriate, socially beneficial, and economically viable management of the world’s forests Greenalia moves a step further in its 2023 target of sourcing its Biomass Plant with 100% forestry residue from certified plantations Greenalia takes another step forward in its goal of producing renewable energy while also taking care of the environment. Greenalia Forest has just ratified its membership in FSC International, an organization that promotes environmentally appropriate, socially beneficial, and economically viable management of the world’s forests. Greenalia was already a member of FSC Spain, and now broadens its scope to include other places in the world. For the company sustainable management is key to preserve our world’s environment and biodiversity. The Green Company prioritizes work with forestry residues from certified plantations aiming at 100% certified sourcing in 2023. In this line, the company promotes certification for small landowners, provides financing and technical support to a certification body that already accounts for 1.700 members. FSC was a pioneer in forest certification and established the first international frameworks to achieve responsible and sustainable forest management. It is the leading catalyst and defining force for improved forest management and market transformation, shifting the global forest trend toward sustainable use, conservation, restoration, and respect for all.... Read more...Greenalia donates school material to students in Vimianzo as part of its CSR strategy for municipalities where its developing wind projects28/08/20Greenalia currently has three wind farms in different stages of construction: Alto da Croa II, in Dumbría, and Alto da Croa and Monte Tourado, in Vimianzo More than 500 students will benefit from this scheme for 20-21 academic year The initiative is part of the company’s CSR policy and is one of the first projects launched under the umbrella of the Greenalia Foundation to promote the energy transition Greenalia is moving forward with its wind farm projects in Costa da Morte, where it currently has three wind farms in different stages of construction: Alto da Croa II, in Dumbría, and Alto da Croa and Monte Tourado, both in Vimianzo. Work is expected to begin over the coming days now that the area has been cleared of trees and shrubbery. This was confirmed today by the company after it delivered school materials to students in Vimianzo enrolled in the 2020-21 school year, which was carried out as part of the agreement signed this July with the municipal councils in Dumbría, Santa Comba, Coristanco and Vimianzo. Through this agreement, Greenalia committed to provide school and sports materials to some 500 school children in these municipalities, with a particular focus on those students who may be in especially vulnerable situations. This initiative forms part of the company’s CSR policy and paves the way for the future social action programs of the Greenalia Foundation, through which Greenalia intends to reinvest in the areas where it operates. Along these lines, this social program is aimed at supporting students in the municipalities of Coristanco, Dumbría, Santa Comba and Vimianzo, where the renewable energy company currently has wind farms in operational or project stages. School materials will therefore be delivered to the other remaining municipalities over the coming days, as was done today in Vimianzo, where Beatriz Mato, Greenalia’s Director of Corporate Development and Sustainability, travelled to oversee the handover in person, accompanied by the Mayor, Mónica Rodríguez. Through this measure, the company seeks to help families during an unprecedented and exceptionally challenging back-to-school period in the wake of the COVID-19 crisis. Greenalia is committed to promoting the role of wind farms in the recovery of Spain’s economy, with a particular focus on boosting employment in rural areas, as the wind farms help to maintain populations in the areas where they are built. The company already has one wind farm in Miñón, in Vimianzo, with an installed capacity of 24 MW, and it plans to complete three more in Costa da Morte by the end of this year: Alto da Croa II (10.4 MW), in Dumbría, and Alto da Croa (7.3 MW) and Monte Tourado (10.4 MW), in Vimianzo. Alongside these, the company also has three other projects planned in the municipalities of Coristanco and Santa Comba (Monte Toural, Campelo and Bustelo) that are currently in the application stages.... Read more... More News CORPORATIVE Lastest News 2020GREENALIA WILL UPDATE ITS STRATEGIC PLAN AIMING OVER 2 GW CONSTRUCTION IN THE NEXT 5 YEARS29/12/20The renewable energy producer has obtained permitting admission (admisión a trámite) for 100% of its projects with grid-access by the competent authority within the timeframe set by the Energy Transition Ministry (Ministerio de Transición Ecológica, MITECO) in RDL 23/2020 The Company improves its forecast with the addition of these new projects and will update its strategic plan accordingly Greenalia, the renewable energy producer, has obtained permitting admission (admisión a trámite) for 100% of its projects with grid-access, up to 1.830 MWs split in: 1.170 MW onshore wind and 660 MW solar. In this way, the Company hits the first milestone set by MITECOs Royal Decree-Law of 23 June 2020 by order of which companies who had been granted grid-access for projects after 12/31/2017 and before 06/25/2020 had to show proof of permitting admission by the competent administrative body of these projects. This significant achievement constitutes an important milestone for the Company’s Strategic Plan that forecasted construction of 1 GW until 2023. This consolidation of Greenalia’s project pipeline and the significant progress in project permitting process will allow the company to revise its Strategic Plan. This new strategy will set more ambitious targets and will set as new global target the construction of a total of 2 GW in its mix of technologies. In this framework, apart from the total 1.830 MWs, it is to be highlighted that another 640 MW of onshore wind have obtained permitting admission. These MWs had started the permitting process before the legal moratorium to obtain the corresponding grid-access. In addition to this, the Company has 289 MW of onshore wind, 250 MW of offshore wind and 100 MW of Biomass awaiting grid-access once the legal moratorium is lifted. Greenalia has now one of the most diversified pipelines in the renewable energy sector and its differentiated from its competitors in that it has under development projects in four different technologies (biomass, solar, onshore wind and floating offshore wind). To date, it is the only company with presence in floating offshore wind in Spain, technology in which the Company is targeting to become as one of the main international players, boosting in this way, through its projects the great capabilities of the Spanish industry in this sector. It is the only company, that, to date, has clearly defined floating offshore in Spain as one of its main targets for development. Greenalia has targeted the areas with better resource for each technology its developing. In this way, it has focused its onshore wind development in the North West of the Iberian Peninsula with over 3600 hours of wind; solar development in the South of the Iberian Peninsula, with more than 2.000 hours of solar radiation, its biomass plant in Galicia, the main area for forestry resource in Spain and one of the most important in Europe; and offshore wind in the Canary Islands with over 5.250 hours of wind. Lastly, in this pipeline technologies different from Solar (the main technology developed by other competitors) have a very significant weight. This is a very important fact to highlight given the superior EBITDA and Profitability levels of these other technologies compared to Solar: (a) Onshore Wind is twice as profitable as Solar; and (b) Biomass and Offshore Wind are up to five times as profitable. Therefore, Greenalia’s operating and under-development assets are the equivalent, in profitability terms, to 400 Solar-MW. Finally, all summed-up, together with the obtained permitting admission and the grid-access pipeline – 3.400 MW – it would be equal to a total Solar pipeline of 7.000 MW. Today Greenalia has 50 MW from its Biomass Plant in operation and two onshore wind farms that sum-up 46,5 MW to which it will add another 28 MW from another 3 onshore wind farms in construction in A Coruña. For next year the company expects to initiate construction of another 135 MWs. ... Read more...GREENALIA ISSUES A 55 MILLION EURO GREEN BOND TO BOOST ITS INVESTMENT PLAN16/12/20The decision was reported to the market and it is enhanced by the share repurchase plan by the Company’s CEO, Manuel García, to reach 85% of outstanding shares The company has increased its project portfolio in the past few months, with a special focus on floating offshore wind Greenalia has just successfully completed a 55 Million Euro senior green bond emission in the MARF (Alternative Fixed Bond Market). The individual nominal amount for each bond has been 100.000 Euros, with a 5-year maturity and a 4,95% coupon. The bond has been focused exclusively on institutional investors. This issuance has been fully subscribed and paid with the support of institutional investors and the two main shareholders of the Company (Manuel García and Jose María Castellano), and the funds will be used to debt repayment of the three existing green bonds (listed at the MTF Luxembourg) and other debt, apart from enabling the development of the Company’s renewable energy projects pipeline. As in previous occasions the bond will be qualified as green by Standard&Poor’s. In the mentioned transaction, Solventis AV. has acted as Global Coordinator and bookrunner, Banco Sabadell as a bank agent and Garrigues as the legal advisor. As a relevant fact also being disclosed, the Company’s main shareholder, Manuel García (through Smarttia Spain S.L.) in addition to participating in the green bond issuance, will also launch a share repurchase plan with the intention of increasing its stake in the company from 84.11% to 85%. Access the public disclosure click here. Access the issuance document click here.... Read more...GREENALIAs EBITDA 65% HIGHER THAN LAST YEAR21/10/20During the first half of this year, a period marked by the COVID-19 crisis, the company has invested 40 million euros in renewable energy projects (wind and biomass), mobilizing around 200 jobs in the process. It completed the acquisition of 30 balers for the biomass supply for the Curtis-Teixeiro Plant, that is exporting energy since the beginning of the year (in testing phase), with hopes of becoming fully operational during the second half of the year. The renewable energy company is making active progress with all of its projects and will redefine the temporary frameworks within its strategic plan, once it has assessed the real impact of COVID-19 pandemic. The Greenalia Foundation for the Energetic Transition also made great strides during the first half of the year, implementing a number of projects that have helped 500 children and their families during the back-to-school process in the midst of these challenging times. In the first half of 2020, Greenalia managed to achieve an EBITDA of 2.79 million euros, 65% higher than last year, and a turnover of 19.6 million euros. These figures show that the company manages to stay its course despite the COVID pandemic, even though the context will force it to revise some temporary forecasts for key project completions, while maintaining its overall plan that has even been increased with the addition of a number of new proposals over recent months. This was highlighted this morning by the company’s CEO, Manuel García, and CFO, Antonio Fernández-Montells, when they shared the financial and operating results for the first half of 2020 (1H20), where they outlined the resilience the sector and the company have shown in the face of this crisis and the need to invest in renewable energy that should serve as a key lever for economic recovery. Within this context, Manuel García underlined Greenalia’s commitment – “we have a dual focus in our day-to-day work: the production of energy through renewable sources to heal and improve our planet, and the positive and regenerative impact that our efforts have on our surrounding environment and communities, where, in addition to boosting the local economy and creating employment, we also contribute towards social projects that improve people’s lives”. That’s why Greenalia, through its Foundation for the Energetic Transition, has launched a number of initiatives this year to support families during the back-to-school process in these particularly challenging times, and has helped more than 500 pupils in the communities where the company has active projects. As explained by the Greenalia’s CEO, the COVID crisis will make us reshape our strategic plan, a reorganization that shall be implemented when we have a clearer understanding of the situation and have better assessed the scope and impact of this pandemic that “unfortunately is far from over”. As for Antonio Fernández-Montells, he highlighted that “the financial impact of these adjustments to our initial plan is very low, as, in terms of the company valuation, they amount to less than 1% of its current capitalization. More importantly, the financial impact is significantly less than the positive impact of the Ro increase of the Biomass Plant”. Major investment in the face of the COVID crisis It was also pointed out that, during this period strongly marked by the state of alarm and the drop in consumption, Greenalia has managed to maintain the same level of investment and has continued creating jobs. Within this context, the construction of the Ourol Wind Farm in Lugo was completed, Alto da Croa I, Alto da Croa II and Monte Tourado Wind Farms in Costa da Morte started construction, and the acquisition process for 30 balers to be used in the Curtis-Teixeiro Biomass Plant was completed. All of this amounted to a 40 million euros investment and the creation of more than 200 jobs. This will allow the company to continue to work towards the future commissioning of the Ourol Wind Farm in Lugo (22.5 MW, completed and in the testing phase) and the finalization of the Alto da Croa I, Alto da Croa II and Monte Tourado Wind Farms in A Coruña (27.70 MW, in the construction phase). These projects are predicted to generate over €7M revenue and over €5.5M EBITDA for the year. Alongside these projects, the company is also in the final application stage for the second part of the Eolo project, named “Eolo I CBT”, which involves 4 Wind Farms in Galicia with a total power of 135 MW. Drive towards offshore wind power During the presentation, Greenalia’s Directors stressed the importance that the floating offshore wind farms projects on Spanish coast will have for Spain in general, and for the company in particular, with it set to be a key technology for the future of the wind sector. Along these lines, they highlighted the importance of the projects presented by the company in the Canary Islands, which have a total power of 250 MW and are currently in the beginning stage of application.... Read more...GREENALIA ACQUIRES TWO NEW SOLAR PROJECTS AND ADDS 60 MW TO ITS ENERGY PORTFOLIO29/09/20With these two solar projects acquired in Andalucía the company’s solar portfolio reaches 660 MW Greenalia has acquired two new solar projects being developed in Jaén totalling 60 MW. With this acquisition, Greenalia updates its portfolio, reaching 660 MW in its solar projects pipeline, all of these projects have grid access granted by Red Eléctrica Española (REE) and are located in top solar resource areas of the Iberian Peninsula, specifically Andalucía and Comunidad Valenciana. With this new step, Greenalia consolidates its renewable energy focus as a source of green development, growth and recovery and is positioned as a key player in Spain and Europe’s decarbonization process. The company also continues to diversify its technology and is present in onshore wind, solar, biomass and more recently it started a strong push in offshore wind. With its floating wind farms, Greenalia will spearhead the development of one of the most promising sources of renewable energy. A technology that has been developing and growing fast in the last few years at a global scale and where the company is positioned as a front runner. Apart from the 660 Solar MWs the group adds 1.131 Wind MW also with grid access; totalling 1.791 MW with evacuation rights. Also, the group has 74 MW already in operation (wind and biomass) and 50 MW wind projects under construction in Galicia. These rights (1.915 MW) are almost double the power needed to reach the 1 GW target included in the #1-5-100 Strategic Plan (1GW-5years-100M€ EBITDA).... Read more...GREENALIA PLANS FOUR NEW FLOATING WIND FARMS IN GRAN CANARIA24/09/20These four wind farms would be added to Gofio project, also located in the Southeastern part of Gran Canaria, which has advanced significantly in last months in its permitting process. The company headquartered in Galicia (Spain), is firmly committed to floating offshore wind energy, a technology ready to lead the green energy growth in Europe in coming years. Greenalia has initiated the process for the development of four new floating offshore wind projects, by filing its project & environmental planning applications in addition to the GOFIO 50MW wind farm, which launched its permitting process earlier this year. DUNAS, MOJO, CARDON and GUANCHE are completely independent projects with a installed power of 50 MW each, located in the South-east coast of the Gran Canaria island, in the vicinity of GOFIO offshore wind farm. In fact, this is one of the areas with highest wind resource in Europe, which makes the Canary Islands the ideal platform for deployment of floating wind technology in Spain. Each project will consist of four 12.5MW offshore wind turbines on top of floating foundations, anchored to the seabed at depths of between 61 and 92 meters. As in the case of GOFIO Wind Farm, these new facilities will be connected to the grid through submarine cables which will conduct the energy produced by each of the wind farms individually. In this way, Greenalia is endorsing its commitment to floating wind energy, as one of the renewable energy sources that will lead the green growth in Europe in coming years, where 80% of the offshore wind resource is located at depths of more than 60 meters, but also Worldwide, where 70% of the offshore wind resource is also floating, and more importantly, where are located the areas with the largest renewable resource and thus the areas that could obtain the most competitive generation costs of all the renewable energies. These four new projects, along with GOFIO, which started the permitting process earlier this year, mean a considerable increase in Greenalia’s portfolio of offshore wind projects, reaching 250MW power in the Canary Islands. As a result of this, it is expected a significant reduction in energy costs (LCOE), due to the application of scale economies, and thus to generate important public fund savings. But also, this positive effect for the Canary Islands is double, since these projects will boost the process of energy decarbonization in the Canary Islands by replacing a significant portion of the traditional highly polluting sources of power out of the Canary Islands’ energy mix, resulting in an environmental benefit; and on the other hand they will also contribute to the creation of qualified employment on the islands, especially important currently if we take into account the current destruction of employment as a consequence of the COVID-19 pandemic. DUNAS, MOJO, CARDON and GUANCHE projects have a total installed power of 200MW and will produce enough energy to supply a population of more than 280,000 homes, but also will avoid the emission of approximately 560,000 tons of CO2 per year. During the process of development, construction and operation, the projects will generate hundreds of direct and indirect jobs, contributing to the development of a green economy in the area. With the deployment of these projects, the Canary Islands will become one of the world leaders in floating offshore wind technology, and also it will be possible to achieve the objective of developing 310 MW of offshore wind, as set out in the Canary Islands 2015-2025 Strategic Energy Plan (the so-called “EECan25”). Finally, these 250MW are expected to become an essential key for the deployment of the floating wind sector worldwide and a historic opportunity for Spain to lead the most strategic growing energy sector nowadays, which would also mean an unbeatable opportunity for the internationalization of its Industry, and an significant job creation impulse About Greenalia Greenalia is an Independent Power Producer (IPP) that deals exclusively with renewable technologies. The company has more than 12 years of experience in the sector and is listed on the BME Growth (Alternative Stock Market) since December 2017. The main activity of the company is the electrical energy generation and sale, being present in three technologies: wind, solar photovoltaic and biomass, where it currently is vertically integrated from the origin of the raw material to the production of electrical and thermal energy.... Read more... More News
