Greening has decided to launch a takeover bid (OPA) for Energy Solar Tech, in a transaction that values 100% of the company at around 85 million euros, implying a premium of 41% compared to yesterday's closing price and the proposed exchange ratio.
According to the renewable energy group, which is listed on BME Growth, the fixed exchange ratio contemplates the delivery of 0.9546 newly issued ordinary shares for each Energy Solar Tech share. These new shares will have a nominal value of 0.0025 euros and will grant their owners the same political and economic rights as the currently outstanding shares.
The proposal is conditional on the approval of the relevant corporate bodies, as well as the necessary regulatory authorizations, and on at least 50% of Energy Solar Tech's capital accepting the offer.
The acceptance period will be 15 calendar days from the next business day. The settlement of the OPA is expected within approximately two months of its launch, once the necessary corporate and regulatory procedures are completed.
If the transaction is successful, Greening's shareholding will consist of 69% of the capital held by the current shareholders of the Andalusian company and 31% held by the current shareholders of Energy Solar Tech.
This is the second acquisition undertaken by Greening, following the completed OPA on EIDF, as part of its 2026-2030 Strategic Plan, focused on transforming its business model and driving profitable growth.
Reinforcement of renewable assets and industrial capabilities
The Andalusian company emphasized that the integration of Energy Solar Tech will allow it to "add operational renewable assets with recurring cash generation capacity, strengthening the group's financial visibility and complementing the growth of its activity with a more stable revenue base."
Likewise, it pointed out that the transaction will also give it the option to "boost its construction capabilities, in a context of growing demand for energy infrastructures associated with electrification, renewable development, and the rise of data centers."
Energy Solar Tech has two industrial plants located in A Coruña and León, and has experience in electrical infrastructure, substations, equipment manufacturing, and modular solutions for the energy sector.
The company is also listed on BME Growth and closed 2025 with a turnover of 81.2 million euros and gross operating profit (Ebitda) close to 11 million euros.
The CEO of Greening, Pablo Otín, highlighted that the operation demonstrates the group's commitment "to being one of the protagonists in the consolidation of the sector in the country".
"The incorporation of Energy Solar Tech will allow us to add predictable generation and industrial talent, both differential capabilities at a time of strong demand," he stated.