Greenalia

Greenalia S.A. operates as an independent power producer focused exclusively on renewable energy. Established in 1996 and headquartered in A Coruña, Spain, the company has evolved from its origins in the forestry sector to a key player in the green energy transition. The company is led by founder and CEO, Manuel García Pardo, who holds a majority stake through his holding company, Smarttia. Another significant shareholder is José María Castellano, a former Inditex executive, who holds a minority stake. The company's initial business segments included forestry and logistics, but its strategic focus has shifted decisively towards energy generation.

The core of Greenalia's business model is the development, financing, and operation of renewable energy assets, generating revenue through the sale of electricity. Its portfolio is diversified across multiple technologies, including onshore and offshore wind, solar photovoltaic, biomass, energy storage, and emerging hydrogen solutions. Geographically, Greenalia operates in Europe and the United States, with a significant pipeline of projects in both regions. In Spain, its portfolio includes onshore wind farms and the country's first floating wind farms. A notable asset is the Curtis-Teixeiro biomass plant, a project involving a €135 million investment. The company has secured long-term power purchase agreements (PPAs), such as a 10-year deal to supply wind energy to Alcoa's smelter in Spain, providing stable, long-term revenue streams.

Greenalia has pursued an ambitious expansion into the U.S. market, particularly in Texas. This move was initiated in 2021 with the acquisition of the Misae II solar project. The company has since secured substantial financing, including a $200 million credit facility in February 2024 and $388 million for the Misae II project, to advance its U.S. pipeline of solar, wind, and battery storage projects totaling around 3 GW. This strategic international growth is designed to capitalize on favorable regulatory environments and the global shift towards clean energy. The company was publicly listed on the BME Growth market in Spain from 2017 until a successful takeover bid in 2022 led to its delisting, with Manuel García and José María Castellano consolidating ownership. On January 23, 2025, Greenalia was acquired by Altri.

Keywords: renewable energy producer, independent power producer, solar energy, onshore wind, offshore wind, biomass energy, battery storage, green hydrogen, power purchase agreement, project financing, energy transition, Spain renewables, US renewable energy, Texas solar, utility-scale solar, wind farm development, floating wind, corporate PPA, sustainable infrastructure, green finance, electricity generation, clean energy assets