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 THE BOND OF 55 MILLION EUROS ISSUED BY GREENALIA OBTAINS THE MAXIMUM RATING FROM STANDARD & POOR’S IN ITS GREEN EVALUATION29/01/21Last December the company successfully completed a five-year senior bond issuance intended to bolster its investment plan. Greenalia has just obtained 135 MW of wind power capacity from the renewable energy auction held this week by the Spanish Ministry for Ecological Transition. The 55 million euros bond issued last December by Greenalia in MARF (Spanish Alternative Bond Market) has obtained a B1 rating from the S&P Green Evaluation, the highest of the four possible levels, with E4 being the lowest. The rating was achieved after the operation was evaluated over three key areas: transparency, governance and mitigation. The rating agency’s evaluation report confirmed that their weighted sum gave a result of 76 points. It should be noted that the issuance of 55 million euros of senior bonds on the MARF last December was completed successfully. The nominal unit amount for each bond, intended for qualified investors, was 100,000 euros, with a maturity date of 5 years and a coupon of 4.95%. The issuance was able to achieve its initial objective with support from institutional investors and the company’s two main shareholders (Manuel García and Jose María Castellano). This is the 4th green bond issued by the Company: the first was issued in Spain and the other three in Luxembourg. Greenalia continues to consolidate itself as a benchmark company for these types of issuances and secures its position as a leading SME in these types of operations. The funds obtained through this operation, which just achieved the highest green bond rating from Standard & Poor’s, will be used to cancel the three existing bonds on the Luxembourg Stock Exchange (MTF) and other loans, in addition to continuing development of the company’s portfolio of renewable energy projects.... Read more...GREENALIA CLOSED 2020 REINFORCING ITS SUSTAINABILITY AREA AND ITS ESG POLICIES29/12/20The producer of renewable energy launched a specific department for these areas and social actions were promoted in the municipalities where projects are being undertaken. In 2020, the company began the implementation of its First Diversity, Equality, and Inclusion Plan which includes more than 20 goals to advance equal opportunities. Currently, it is working on the Second Sustainability Report and the revision of the Strategic Sustainability Plan to adapt it to the new SDGs. The promotion of sustainability in the ESG (Environment, Social, and Corporate Governance) framework has been one of the axes around which the work of the new Sustainability Department at Greenalia has revolved. An area created during 2020 with the objective of sustainability and CSR being present in a cross-cutting way in all the projects developed by the company and to continue the path taken in previous years in which the Strategic Sustainability Plan was developed, which has been the company’s road map in this area. The producer of renewable energies has placed special emphasis on the promotion of social support programs in those regions where it is undertaking business projects. Thus, considering the difficulties brought on by COVID-19, agreements were launched with five Galician municipalities (4 on the Costa da Morte and one in Lugo) to support families in the return to school during the 2020/21 school year. To this end, agreements were signed with local governments through which financial aid was established for the purchase of school supplies that benefited 500 families with minors. In educational matters, there was also the agreement signed with Cáritas Coruña last November which governed the donation of laptops for the FamiliaEduca program managed by said NGO. These initiatives have served as a preamble to what will be the Greenalia Foundation for Energy Transition, an entity which is in the process of being established. With its startup, Greenalia will undertake social, inclusion, and equality projects in the environments where it works. In addition, with the aim of continuing to advance Corporate Governance Policies, a compliance action plan is being worked on in line with ESG standards and with the aim of incorporating the best practices of the market for the entire team. Internally, talent management and cybersecurity actions have been strengthened. In terms of the environmental aspect, we continue to calculate our carbon footprint to become a carbon neutral company once again. In addition, we have adhered to FSC International, thus strengthening our commitment and maintaining our Fair Wood certification. 2020-2023 Strategic Equality, Diversity, and Inclusion Plan 2020 was the year in which Greenalia’s first Equality, Diversity & Inclusion (2020-2023) was approved – a plan with which the equality of opportunities between women and men will be promoted and guaranteed. For its development and follow-up, an Equality Commission was created – a body designed to ensure compliance with the more than 20 objectives set out in the document approved this second half of the year. Attached to this plan, the protocol for the prevention and treatment of sexual and gender-based harassment in the workplace has been approved.... Read more...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... More News CORPORATIVE Lastest News 2020GREENALIA OBTAINS 135 ONSHORE-WIND-MW AWARD IN TODAY’S SPANISH RENEWABLE ENERGY CAPACITY AUCTION27/01/21The company headquartered in A Coruña obtained today 13,5% of the total capacity destined for wind technology in the auction held today by MITECO (Ministry for the Ecological Transition and the Demographic Challenge) In 2021 the Company will have 9 wind farms under construction in Galicia Greenalia has obtained 135 MW in the auction held today by MITECO, this amounts to a 13,5% of the total capacity for wind technology being auctioned off by the public administration. With this award the Company consolidates its development portfolio of projects and its drive of wind technology development in Spain. Greenalia will destine these 135 MW from today’s auction to develop its Eolo II Plan Projects: specifically, for Felga (21 MW), Gato (25,2 MW), Penas Boas (16,8 MW), Pena Ombra (45 MW) y O Cerqueiral (27 MW) wind farms. All these projects are in a very advance permitting stage, already started public display, and located in A Coruña Province. Another 135 MW (Eolo I) have to be added to these ongoing developments. In detail we are talking about: Campelo (40 MW), Bustelo (50 MW), Monte Toural (20 MW) and Touriñan (25 MW) wind farms, all of which are in advanced financial pool stages (market) with the same strategic approach of the other two operating wind farms in this plan: Miñón (24 MW) and Ourol (22,5 MW), and the following under construction projects: Croa, Croa II and Monte Tourado adding up to 27,7 MW. The technical details of these projects, that share electrical evacuation infrastructure, with its corresponding investment reduction and high wind resource, in average above 3.800 hours, has allowed for a very competitive bid price of 29€/MW, the highest price obtained in the auction. This comes to show the importance of a pipeline located in areas of maximum wind resource. With these projects Greenalia will total 270 MW to be entirely developed in Galicia, 9 facilities that will start construction in 2021 so that their operational kick-off could start progressively in 2022. These wind farms in addition to another set of 74 MW currently in operation and construction will total 344 MW plus an extra 50 MW from Greenalia’s Biomass Plant already in operation. In total 394 MW all part of the close to 4 GW Pipeline that the company has in different development stages in four different technologies (offshore floating wind, onshore wind, solar photovoltaic and biomass). Greenalia’s portfolio is one of the most diversified portfolios where floating offshore wind holds a strategic place and its called to be one of the most promising technologies of the future globally. Greenalia ratifies in this fashion its decisive drive for renewable energy as a source of green growth and development and is positioned as a key player in the decarbonization process in Spain and Europe. Total investment and Green Job Generation For Greenalia developing and building these onshore wind MW in Galicia constitutes and important step in generating opportunities for the component industries in the area and to anchor industrial jobs. Specifically, the 270 MW will total 270 million euros investment in the coming years and the mobilization of around 2.700 jobs in relation to construction phases of the different wind farms.... Read more...GREENALIA’S CURTIS-TEIXEIRO BIOMASS PLANT PRODUCED MORE THAN 166 GWh AND MORE THAN 15 MILLION EUROS TURNOVER15/01/21The facility started operations last March and has an installed capacity of 50 MW. The investment in the plant was 135 million and generates 135 jobs. Located on a plot of land of over 100,000 m2 in Curtis-Teixeiro’s Industrial Park, this is the largest plant in Galicia and amongst the largest in Spain and Europe. Greenalia’s Curtis-Teixeiro Biomass Plant, operational since last March, has produced more than 166 GWh since then – and said production equals more than 15 million euros turnover. The 50 MW Plant has the capacity to consume, at full capacity, half a million tons of certified forestry biomass. To supply the plant, Greenalia acquired 30 biomass gathering balers for the collection of forestry residue that, once prepared and converted into bales, is transported to the Plant in one of the 80 trucks that enter the site daily. The Biomass Plant is built on a 103,000 m2 plot of land, 135 million euros were invested in its construction, and more 1,000 jobs were created in the area. Of these jobs, more than a hundred were kept as fixed once the activity began: 35 in the plant and the rest in biomass collection activities, around 100. In Galicia, more than 100,000 forest operations are carried out annually from which almost 10 million m3 of wood is extracted (2019 data), mainly eucalyptus and pine, with forestry residue generation of more than 2 million tons; the Curtis plant could deal with 25% of the total biomass generated in Galicia. Thanks to this operation, a contribution is made to the cleaning of the Galician countryside through the collection and reclamation of forestry residue that would otherwise remain in the mountains in most cases – with the risk of causing fires and attracting pests. Through this project, Greenalia is demonstrating its commitment to the Earth, both from the point of view of local employment and wealth generation and from the point of view of respect and care for nature, as it is contributing to the maintenance of the area’s forests and to prevent wildfires, encouraging the collection of biomass residue of a small size that is normally discarded for industrial use. Likewise, jobs are being created in rural areas as forestry companies are generally closely linked to the environment and communities where they operate.... Read more...GREENALIA MOVES FORWARD WITH ITS DIGITALIZATION AND TECHNOLOGICAL INNOVATION STRATEGY10/01/21Greenalia’s commitment to digitalizing all its processes has been demonstrated by its major investments of close to two million euros in this area over recent years. Digitalization and sustainability are both integral to the company’s objective to achieve more efficient and transparent management and to reduce its impact on the environment. The pandemic has put digitalization at the core of all operational and financial endeavors. This is a journey that Greenalia started well before 2020, in 2018 to be specific, when it made a firm commitment to digitally transform of all its business activities. From that point on, Greenalia’s investment strategy has been decisive in the journey to become a 100% Digital Company. This journey included purchasing new equipment and implementing new systems, with a total investment of approximately 2 million euros. The journey also started with Microsoft 365 implementation, a technology that offers high levels of security and availability; and migrating and securing all the company’s data. Another major step was transferring all the on-premise architecture to the cloud. This process enabled the company to seamlessly transfer their workforce to a homeworking structure last March while maintaining business continuity, days before the general lockdown was decreed. Greenalia’s cloud can be accessed from anywhere, is secured, and is one of the fundamental parts of the company’s development and scaling strategy. The company is continuing to make advances along this path, particularly with regards to the Enterprise Resource Planning System (ERP) and is implementing various new developments and integrations into SAP. For this year specifically, the company is committed to incorporating various SuccessFactors modules, a flexible talent management cloud-based tool that is integrated into the SAP HCM/HR module. It is a powerful driver for organizational development that integrates both talent development and the company’s growth strategy. As such, the company aims to continue working on strengthening the user experience of its employees by supporting their development processes and promoting high levels of motivation. All of this is taking place alongside the adoption of new technologies for automating processes (RPA) and the creation of a digital environment that promotes innovation and organizational development. In addition to improving internal management and business efficiency, this digitalization process has led to other benefits within the company as well, as, among other milestones, it has entirely removed the need for paper and physical archiving in the offices (Paperless Philosophy). This has not just led to an improvement in the working environment, but it has also been an important step in the reduction of paper and ink consumption, which consequently helps to protect the environment. We now use interactive whiteboards, digital post-its and take notes using an electronic pen on our screens. This helps us to be much more sustainable, efficient and focused on what is important: transforming our energy models and fighting for a greener future. Controlling and protecting our data Our move towards digitalization has involved a major focus on security, which is why we work continuously to keep our systems and protocols fully up to date. From the installation of multi-factor authentication (MFA) and single sign on (SSO), to the development of a Cybersecurity Master Plan, the Greenalia Digital Department’s action plan involves maintaining a high level of alert against cybersecurity risks and cyber attacks, which are a constant threat to companies these days. All devices are validated and configured by the Digital Department, which uses Microsoft tools like Intune (a cloud-based service designed for managing mobile devices) to guarantee security and control access to company data. Greenalia has also brought innovation and digital transformation to its balers working in the Galician woods transporting biomass to the Curtis-Teixeiro Biomass Plant, where it is used to generate renewable energy. As another example of the developmental power of renewable energy, the Internet of things (IoT) was also applied to the balers, the trucks, and the 50 MW Biomass Plant, so we can now obtain real-time operational information and improve decision-making. To continue with its digitalization strategy, one of Greenalia’s objectives over the coming months is to begin incorporating artificial intelligence (IA), big data and IoT into new processes. One benefit of the application of IA, for example, is that it will enable the company to anticipate and predict potential faults in the various mechanisms involved in wind turbines. This kind of predictive maintenance will help to save time, maintain activity levels and prevent and rectify potential interruptions. As a renewable energy company with conservation of the planet ingrained in its DNA, Greenalia believes that digitalization can help us better protect the environment and make more progress towards sustainability. This goes hand in hand with a reduction in management time and the automation and accessibility of data that enable us to work practically in real time so we can respond to any incident or need for improvement, or even anticipate them. The application of cutting-edge technology enables us to strengthen the company’s resilience within a highly challenging context that is undergoing constant change.... Read more...GREENALIA 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... More News
