Otovo launches a debt issue of 100 million and increases its capital by another 20 million

27 Jan. () –

The residential solar self-consumption company Otovo has launched a committed debt issue of more than 100 million euros and a capital increase of 20 million euros to be able to deploy the business of renting solar installations in its expansion throughout Europe.

The company has explained in a statement that this operation facilitates its growth and will allow the deployment of the rental modality in some 12,500 solar installation assets in the 13 markets in which it operates, which is and represents one of the largest financing packages carried out by a residential solar company in Europe.

Following the transaction, Otovo’s portfolio of underwriting assets will be worth €200 million and will consist of approximately 100 MW of solar power and battery assets.

“The new financing is a natural step forward to increase the capital efficiency of our financial framework while we continue to grow our underwriting business,” said Otovo’s general manager in Spain, Íñigo Amoribieta.