©Reuters. The MARF admits EiDF green promissory notes program for 25 million euros
Madrid, Jan 28 (.).- The Alternative Fixed Income Market (MARF) has admitted to trading the first green promissory note program of the company specializing in photovoltaic solar energy installations EiDF for 25 million euros, which, with the funds obtained, it will finance existing and future projects to increase its share in the wholesale electricity market.
As reported this Friday by Bolsas y Mercados Españoles (MC:), EiDF, which is listed on BME Growth -a market aimed at small capitalization companies seeking to expand- seeks with this issue flexible access to qualified investors in the next twelve months and diversify their sources of financing by issuing promissory notes.
EiDF has structured the promissory notes issued under the program so that they are considered a green instrument.
The funds obtained with the issues will be used to finance or refinance, totally or partially, existing or future projects to increase their share of renewable energies within the wholesale electricity market (pool).
EiDF has obtained an opinion from Serfiex, a financial asset valuation company, confirming that its 2022 green financial framework is aligned with green bond principles.
With this program, there are now eleven bond issues or programs that meet ESG criteria (environmental, social and good corporate governance) registered in the MARF.
Rentamarkets is the placement entity of the program, while Singular Bank is EiDF’s registered adviser in the MARF and Gómez-Acebo & Pombo Abogados has legally advised the issuer in registering the program.
The Spanish group Energy, Innovation and Photovoltaic Development (EiDF), based in Galicia, develops its activity in the field of photovoltaic solar technology, and designs and builds photovoltaic installations for self-consumption for industrial clients.
EiDF is currently evolving towards a vertical integration model, incorporating the generation and sale of energy into its business model, through the development, construction and operation of photovoltaic solar plants it owns.
It has four business units: self-consumption, generation, EPC -turnkey projects- (global service in photovoltaic projects: design, civil works, construction for third parties) and marketing.
EiDF is listed on BME Growth and in June 2021 it obtained consolidated revenues of 10.1 million euros and an operating profit of 2.4 million.
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