Greenvolt Group, a renewable energy project developer, has completed an additional €70 million (~$81.4 million) issuance of its Green Bonds 2029, increasing the total size of the issue to €170 million (~$197.9 million).

The company placed the additional issuance, known as a tap issue, exclusively with qualified investors. The new bonds will be fungible with the existing issuance and can be traded in the market by any investor.

Greenvolt said the proceeds will support its growth strategy and the expansion of its international renewable energy business. The company said the funds will particularly support its investment plan for utility-scale projects across the markets in which it operates.

“The success of this transaction demonstrates institutional investors’ confidence in Greenvolt’s strategy and growth profile. This additional funding will enable us to continue executing our business plan and strengthen our investment capacity, while maintaining a financial structure aligned with the Group’s needs,” said João Manso Neto, CEO of Greenvolt Group.

In the utility-scale segment, Greenvolt said it has a 12.8 GW probability-weighted pipeline. Of this, approximately 1.5 GW is under construction, and around 700 MW is operational. The company expects to reach 6.3 GW in the ready-to-build stage and 2.2 GW of operational capacity in 2026.

The transaction follows Greenvolt’s 2025 financial performance. The company reported revenue of €777 million (~$904.4 million), a 121% increase from the previous year, and earnings before interest, taxes, depreciation, and amortization of €207.8 million (~$241.9 million).

Greenvolt attributed the performance primarily to the rotation of more than 1 GW of utility-scale assets in Poland, Romania, and Spain. The company did not specify the financial value of the asset rotation or the counterparties involved.

In 2025, the company signed a €35 million (~$41 million) project finance agreement with Ringkjøbing Landbobank. The funding will be used to construct and operate a large-scale hybrid project in Høegholm, Denmark, combining solar and battery energy storage systems.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, debt financing for the solar sector reached $8.9 billion across 28 deals, a 154% increase compared to the $3.5 billion secured in 23 deals in Q1 2025.