The French multinational GreenYellow has taken another leap in the Spanish energy market by closing a financing deal of 32 million euros allocated to solar energy and storageThe movement is consolidating its commitment to the industrial photovoltaic self-consumption and for battery solutions, at a time when many companies are looking to lower their electricity bills and move forward with decarbonization.
This capital injection, structured with the support of Bpifrance and BPCE EnergecoThis will allow the company to optimize and expand its portfolio of projects spread across Spain. The strategy involves offering commercial and industrial clients comprehensive solutions that combine solar generation, storage and energy efficiency, without requiring initial investment from companies.
A portfolio of 23 solar plants and two storage projects
The financial package is aimed at a diversified portfolio of 23 photovoltaic installationsThese assets, either operational or under construction, represent a combined installed capacity of 50 MWp. They are primarily geared towards C&I self-consumption, meaning they cater to industrial and commercial companies that want to use the energy they generate on their own premises.
In addition to solar power generation, the operation includes two specific battery energy storage projectsThe integration of storage systems has become a key element in stabilizing the grid, improving the use of generated energy, and increasing the percentage of real self-consumption in industrial plants.
Within this portfolio, the following stand out: one of the largest hybrid photovoltaic self-consumption projects in EuropeThis project combines a solar plant with a 25 MWh battery system and a 7 MW power output. These types of projects allow for shifting consumption to peak demand hours, mitigating demand surges and reducing exposure to electricity price volatility.
The company states that these projects are designed to improve the energy resilience of the facilitiesto reduce CO2 emissions and offer long-term cost stability. All of this is structured through supply and service contracts in which GreenYellow assumes the investment and operation, while the client pays for the energy or for the savings generated.
Structure of financing and backing from French banks
The operation is structured through several lines of credit These funds cover both the development and refinancing of the included assets. Among them is a €28 million senior facility, considered the main tranche of the package, which guarantees the portfolio's financial viability and long-term operation.
Bpifrance The company emphasized that this agreement aligns with its strategy to support GreenYellow's pan-European expansion and the deployment of decentralized energy projects beyond France's borders. According to the company, the transaction reinforces the role of independent power producers (IPPs) in the continent's energy transition.
For its part, BPCE Energeco It has highlighted its experience in the international energy sector and its commitment to financing renewable energy projects in countries such as Italy and Spain. The participation of these two entities supports the bankability of the GreenYellow business model and reinforces confidence in the viability of its platform in the Iberian Peninsula.
According to the company, the closing of this financing certifies the competitiveness of its solar self-consumption, storage and efficiency solutions, in an environment where regulatory requirements and pressure to reduce emissions are forcing many companies to completely overhaul their energy strategy.
GreenYellow Spain: rapid growth in the local market
The Spanish subsidiary, GreenYellow SpainThe company began operations in late 2022 and, in less than three years, has established itself as a key player in the industrial self-consumption sector. It focuses on designing, financing, building, and operating customized projects for clients seeking energy solutions without having to tie up their own capital.
Its main clients include companies such as Stellantis, Benteler, Monbake and the PTP groupCompanies that have opted to outsource part of their energy strategy to a specialized operator. For these companies, the goal is to reduce their dependence on the grid and stabilize energy costs through long-term contracts.
Nicolas Daunis, country manager of GreenYellow SpainThe company emphasizes that this transaction, worth over €30 million in such a short time since its arrival in the country, reflects the "rapid, competitive, and sustainable" growth of the local platform. In its view, the agreement demonstrates the subsidiary's ability to structure, build, and operate top-tier renewable energy projects linked to reliable, long-term energy buyers.
The executive insists that the company's model is based on fully financed "turnkey" solutions, which makes it easier for industrial customers to advance in their energy transition. without facing initial investments or construction risksThis proposal gains appeal in a context of volatile electricity prices and increasingly demanding decarbonization targets.
The role of energy storage and efficiency
As part of GreenYellow's strategy in Spain, battery storage occupies a central placeThe company believes that, to achieve deep decarbonization in the industry, it is not enough to install solar panels: it is necessary to integrate systems that allow for flexible energy management and optimize the use of renewable generation.
Daunis emphasizes that storage is “essential” for maximize actual self-consumption of photovoltaic installations and improve their resilience to potential grid fluctuations. In addition to electric batteries, the multinational is promoting thermal storage solutions and energy efficiency projects, aiming to cover the entire value chain, from technical studies to operation and maintenance.
Alongside the development of new solar plants, the company is deploying a growing portfolio in Spain of energy efficiency initiativesThese proposals aim to reduce consumption in factories, logistics centers and other facilities through technological improvements, monitoring systems and process optimization.
The combination of self-generation, storage, and efficiency is presented as a formula that allows companies to contain the impact of high energy costs and at the same time move towards its environmental goals, an increasingly present concern in European industry.
Strategic alliance with Grupo Enhol and expansion in the Iberian Peninsula
A turning point in the consolidation of GreenYellow in Spain was the creation in 2024 of a joint venture with the Enhol GroupA Navarre-based firm with extensive experience in renewable energy investments. This joint venture has become the main vehicle for channeling investments in self-consumption and storage on the Iberian Peninsula.
The alliance combines the knowledge of the local market and the development capacity of Grupo Enhol With GreenYellow's technical, industrial, and financial expertise, the joint platform can tackle larger projects and offer more comprehensive solutions to major energy consumers.
Currently, this company provides services to corporations such as Stellantis, Benteler, Monbake, and PTP Group, offering them the design, financing, construction, and operation of renewable energy facilities tailored to the specific needs of each plant. The goal is for these companies to be able to advance their decarbonization roadmaps without compromising its competitiveness.
The cooperation with Grupo Enhol also strengthens GreenYellow's local presence in Spain, which is key to handling administrative processes, supplier relations, and territorial project management, especially in a sector as regulated and constantly changing as the energy sector.
European projection and decarbonization objectives
With nearly two decades of international experience and a presence in fifteen countries, GreenYellow has set itself the global goal of achieving carbon neutrality by 2040.The company maintains that, in 2024 alone, its projects prevented the emission of more than 545.000 tons of CO2 equivalent, a figure it aims to increase by strengthening its activity in markets such as Spain.
The deal closed in Spain is interpreted internally as a further step in the pan-European expansion strategyIn this context, the model of decentralized projects, located close to consumption, is gaining ground over large plants far from industrial centers. This approach allows for reduced energy transmission losses and improved integration of renewables into the electricity system.
The company emphasizes that the C&I model—focused on commercial and industrial clients—aligns with the priorities of many European companies, which are looking combining cost reduction, security of supply and a smaller carbon footprintThe newly secured financing in Spain helps to demonstrate that this type of scheme has the backing of the financial sector.
Taken together, the new €32 million financing, the involvement of Bpifrance and BPCE Energeco, the alliance with Grupo Enhol, and the rapid growth of the Spanish subsidiary create a scenario in which GreenYellow is positioned as one of the players helping to to accelerate the energy transition of industry in Spain and EuropeCombining solar self-consumption, storage and efficiency to offer more stable and sustainable long-term solutions.
