Greening Group

What Greening Group does

Greening Group (GREENING GROUP GLOBAL, S.A.) is a Granada-headquartered, publicly listed (BME Growth) vertically integrated renewable energy platform serving commercial and industrial (C&I) energy buyers. Founded in 2011 at the University of Granada and incorporated in its current legal form in May 2020, the group operates across five countries and two continents with 501–1,000 employees and six branded divisions: Lidera Energía (energy commercialization/trading), GreenSol (US-focused solar EPC), Sun Support (PV operations/maintenance and distributed self-consumption products), Relive (photovoltaic panel recycling, in partnership with Tradebe), Twine (biomethane production from agricultural waste via alliance with Atlantica and Edison Next), and Enflexa (battery energy storage and demand flexibility services). Acquired brands include EiDF (solar self-consumption specialist, takeover closed February 2026 at 92.10% acceptance) and Energy Solar Tech (C&I energy services, public OPA announced May 2026 at ~EUR 85M valuation).

The group's business model combines project-based hardware EPC revenue (one-time contracts), recurring energy commercialization via Lidera Energía (wholesale market trading, PPAs, supply contracts), managed BESS/flexibility services, transaction-fee biomethane injection, and professional-services PV recycling. Under the 2026–2030 Strategic Plan, Greening targets more than EUR 139M in sales and EUR 35M EBITDA by 2030, funded by a fully subscribed EUR 30M capital increase (May 2026) and supported by selective M&A (EiDF, Energy Solar Tech), asset rotation (sale of US California/Virginia portfolio, June 2026), and geographic consolidation that prioritizes Spain and Italy while divesting non-core Mexico, Germany, and Morocco activities. Customers span automotive (Mercedes-Benz, SEAT, Ferrari), utilities (Naturgy, Endesa, Iberdrola, EDF, EDP, Uniper), retail/consumer (Amazon, Mercadona, Burger King), food and beverage (Covalco, Bachoco, Acesur), industrial gases (Linde), and real estate (VGP), with reference projects including a 21.5 MW Antequera-Casabermeja plant and a 102 MW Michigan EPC contract through Greensol.

Name

Greening Group

Legal name

GREENING GROUP GLOBAL, S.A.

Website

https://greening-group.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Greening Group is a vertically integrated renewable energy platform listed on BME Growth, delivering solar EPC, energy commercialization, BESS/flexibility, biomethane, and PV recycling to commercial and industrial energy buyers across Spain, Italy, Germany, the USA, and Mexico.

Ownership category

akta.pro rank

Product category

Renewable Energy Services

NAICS

Solar Electric Power Generation (221114), Biomass Electric Power Generation (221117), Electric Power Generation (22111)

SIC

Electric, Gas & Sanitary Services (4900), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Energy & Renewables Specialty Contracting (Solar PV, Storage, EV Charging) (IMAFALAJ), C&I Renewable Supply & Green Tariffs (Bundled RE, Sleeves, Utility Green Tariffs) (EUAGACAE), Energy Storage Components for Renewables Manufacturing (BESS Packs, PCS, Thermal Management) (EUAMAHAI)

Keywords

• Renewable energy solutions
• Solar EPC services
• Energy commercialization
• Battery storage systems
• Biomethane production

Headquarters

HQ city

Granada

HQ country

Spain

HQ region

Europe

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. EPC (Engineering, Procurement & Construction): Greening designs, engineers, and constructs solar and energy installations for industrial customers. Revenue is earned through project-based construction contracts, including the Greensol U.S. EPC platform. This is a one-time/ project-based revenue stream, typically long-cycle with upfront engineering fees and milestone-based payments.
2. Energy Commercialization / Power Trading: Greening commercializes energy to industrial customers via its Lidera Energía brand, trading electricity in wholesale markets and managing supply agreements including PPAs. Provides recurring commercial relationships with industrial energy buyers.
3. Energy Flexibility and Storage Services: BESS and flexibility services that help industrial customers manage demand, optimize energy costs, and support grid stability. Revenue model may include managed services contracts and performance-based arrangements.
4. Biomethane (Twine): Production and injection of biomethane into the gas grid from agricultural waste streams. Greening is developing biomethane infrastructure via alliance with Atlantica and Edison Next, supporting circular economy and gas grid decarbonization.
5. PV Recycling (Relive): End-of-life management and recycling of photovoltaic panels, creating value from decommissioned solar assets and supporting sustainability mandates for industrial customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Greening Group operates a vertically integrated renewable energy platform for commercial and industrial customers. Core offerings include photovoltaic generation, solar self-consumption engineering procurement and construction (EPC), energy supply and power purchase agreements (PPAs) via its Lidera Energía commercialization brand, battery energy storage and grid flexibility services (Enflexa), biomethane production from agricultural waste (Twine), and end-of-life photovoltaic panel recycling (Relive). The company executes multi-megawatt solar and storage projects for industrial off-takers across Spain, Italy, Germany, the United States, and Mexico.

Product overview

Greening Group is an integrated energy platform offering solutions across the full value chain: photovoltaic generation, energy storage, industrial self-consumption, energy trading/commercialization, flexibility services, biomethane production, and PV panel recycling. The portfolio consists of six primary operating divisions: Lidera Energía (energy sales), GreenSol (US EPC), Sun Support (O&M), Relive (recycling), Twine (biometano), and Enflexa (flexibility). Acquired brands include EiDF (solar self-consumption) with ongoing acquisition of Energy Solar Tech (C&I energy services). The company operates across Spain, Italy, Germany, Mexico, and the USA, targeting industrial clients with integrated renewable energy solutions.

Differentiator

Problem solved

Functional benefit

Brands

• GreenSol: U.S. platform specialized in solar engineering, procurement, and construction (EPC) services, operating in the U.S. market for industrial and corporate energy demand.
• Lidera Energía
• Enflexa
• Twine
• Relive
• Sun Support

Products and services

• Lidera Energía Energy commercialization platform enabling industrial clients to procure and manage renewable energy supply through PPAs and bilateral supply agreements. Trades electricity in wholesale markets and manages energy supply for industrial buyers.
• GreenSol U.S.-based engineering, procurement, and construction (EPC) platform specialized in solar project execution for industrial and corporate energy demand in the North American market. Executes multi-megawatt projects including a 102 MW Michigan contract and an 82 MW Indiana project.
• Sun Support Product division offering distributed solar self-consumption solutions and operations and maintenance services for installed photovoltaic systems. Targets mid-market commercial customers via direct sales and energy service companies.
• Relive End-of-life photovoltaic panel recycling service enabling circular economy in solar energy, operated in partnership with Tradebe Environmental Services. Targets solar project operators and asset owners requiring compliant decommissioning.
• Twine (Biomethane) Biomethane division developing agricultural and livestock waste valorization projects via anaerobic digestion to produce renewable gas for injection into the gas network. First project: Palacios de Goda plant in Ávila, Spain, capable of supplying ~8,000 households annually.
• Enflexa Energy flexibility and storage services platform enabling demand response, battery energy storage (BESS), peak shaving, renewable integration, and grid stabilization services for industrial customers. Revenue model includes managed services contracts and performance-based arrangements.
• Industrial Solar EPC (Greening) Engineering, procurement, and construction of industrial-scale solar self-consumption installations, including solar power, battery storage, and electrical infrastructure for industrial customers across Spain, Italy, Germany, and the United States. Reference projects include the 21.5 MWp Antequera-Casabermeja plant in Málaga.

Quantifiable outcome

• ~100,000 tonnes of CO2 avoided to the atmosphere
• +3 more outcomes

Named customers27 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Heelstone Renewable Energy / Qualitas EnergyminorStrategic or Co-development Partner · 8 June 2026Heelstone Renewable Energy (part of Qualitas Energy) is the project developer for the 102 MW Michigan solar EPC contract executed by Greening's U.S. platform GreenSol. Greening is executing EPC alongside an 82 MW project in Indiana. Greening also sold a solar portfolio to an international energy investor, retaining EPC execution through GreenSol.
• Energy Solar TechcoreStrategic or Co-development Partner · 29 May 2026Greening launched a public takeover offer (OPA) for Energy Solar Tech, valued at ~EUR 85M (41% premium). Energy Solar Tech brings C&I energy services including solar power, battery storage, electrical infrastructure, and modular data center solutions, with factories in A Coruña and León and 2025 revenue of EUR 81.2M.
• AtlanticacoreStrategic or Co-development Partner · 19 May 2026Strategic alliance with Atlantica and Edison Next to develop biomethane projects in Spain. First project: Palacios de Goda plant in Ávila, converting agro-livestock waste into renewable biomethane for injection into the gas grid, supplying ~8,000 households. The alliance is developing a portfolio of biomethane projects across Spain.
• Edison NextcoreStrategic or Co-development Partner · 19 May 2026Strategic alliance with Atlantica and Edison Next to develop biomethane projects in Spain. First project: Palacios de Goda plant in Ávila, converting agro-livestock waste into renewable biomethane for injection into the gas grid, supplying ~8,000 households. The alliance is developing a portfolio of biomethane projects across Spain.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Lightsource bp: Global solar PV developer and IPP with European operations including Spain and Italy and active in C&I solar EPC and PPA structuring. Comparable to Greening's industrial-scale solar EPC plus PPA monetization model, though with materially larger capital backing.
• Audax Renovables: Spanish renewable energy retailer and IPP active across Iberia and Europe, combining generation, supply and energy services for C&I customers. Directly comparable to Greening's Lidera Energía commercialization plus generation platform and similar Iberian retail-supply footprint.
• Sonnedix: Global solar IPP operating a multi-GW portfolio across Europe including Spain, Italy, France and Germany. Comparable to Greening's IPP + EPC rotation model, particularly its European-wide geographic strategy across the same priority markets.
• Solaria Energía y Medioambiente: Madrid-listed Spanish solar PV developer and generator with both IPP and energy supply activities. Closely comparable to Greening as a Spanish BME Growth-listed solar PV platform pursuing industrial/C&I customers and self-consumption alongside utility-scale generation.
• Grenergy: Spanish vertically integrated renewable energy developer focused on utility-scale solar PV and BESS across Europe, Latin America and the US. Highly comparable to Greening in geographic footprint (Spain-headquartered, multi-region) and product mix (PV development + storage), and notably the former employer of Greening's CEO Pablo Otín.
• Solarpack (Viscaria/Opdenergy): European solar PV utility-scale developer and IPP with presence in Iberia, Italy and the Americas. Comparable to Greening in solar EPC execution, IPP ownership and Iberian/Italian market prioritization post recent strategic pivot.
• Cero Generation: European solar PV developer and IPP backed by Macquarie Asset Management, focused on utility-scale and C&I projects across Western Europe including Spain and Italy. Directly comparable to Greening's solar development + EPC + asset rotation model.

Broad incumbents

• Enel Green Power: Global renewable energy subsidiary of Enel Group with utility-scale solar, wind, storage and energy supply activities across Iberia, Italy and the Americas. Broader incumbent competitor to Greening in Spanish and Italian C&I renewable supply and solar EPC.
• ENGIE: Global energy major with substantial renewable generation, BESS, C&I energy services and biomethane/gas activities across Iberia and Europe. Broad incumbent competitor across Greening's generation, supply, flexibility and biomethane verticals; former employer of Greening's CLO.
• Acciona Energía: Iberian-headquartered global renewable energy major (wind, solar, BESS, hydrogen) listed as a pure-play. Overlaps with Greening across solar generation, storage and C&I supply, but operates a substantially broader and larger portfolio across multiple technologies and geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/GreeningGroup_
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• Instagraminstagram.com/greeningespana

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries9 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Greening Group