The energy company Holaluz has financing underway for a total of 21 million euros with public institutions and private investors. The renewable electricity marketer assures that this operation is part of the normality of its operations and rules out that it suffers liquidity tensions, as many companies in the renewable sector have been suffering in recent months.
The company has indicated in a relevant fact to BME Growth that it has “everything prepared” to sign this week a loan of ten million euros with the Institut Català de Finances (ICF), three million with Avançsa, and a convertible loan with several Catalan family offices of an estimated two million. An equity line of up to six million will also be signed, of which the amount necessary will be used. This tool involves increasing capital through small placements in the stock market.
In the first half of the year, Holaluz closed with losses of 20.9 million euros, compared to profits of 5.5 million a year ago. Revenue was 156.8 million in the first six months of the year, 46.75% less year-on-year. In the second part of the year, the company has seen an improvement in business. The results of the full year will be presented soon.
The renewable energy sector is at a critical moment. Low electricity prices are having a devastating effect on many businesses. Without going any further, SolarProfit presented an Employment Regulation File (ERE) on Friday for 90% of the workforce because there is no longer demand for solar installations.
