EiDF has signed with Atitlan the constitution of a joint company for the development of photovoltaic parks and endowed with 39.5 million euros and projects to put 81 megawatts (MW) into operation. Atitlan will have control of 51% of the joint venture and EiDF will hold 49%. EiDF has signed, at the same time, the 'epecista' contract for the development of the aforementioned parks, which will mean an income of approximately 26 million euros. Likewise, the renewable company has proceeded to cancel the debt with IKAV for an amount of 12.6 million euros, through the repurchase of the shares of this company.
In addition, EiDF has carried out several operations with its two main shareholders (Prosol and Laurion) that allow it to reduce its short-term debt by 19.6 million euros through the purchase and subsequent early amortization of promissory notes issued in MARF (11.1 million of euros) and the cancellation of a loan signed with Prosol (8.5 million euros), according to Europa Press. The company indicates that this operation will mean, if ratified by the general meeting of shareholders, an increase of 24.5 million euros in the EiDF Group's own funds, going from 31.2 million euros as of June 30, 2023 to approximately 55.7 million as of December 31, 2023.
Finally, EiDF has exercised its purchase option on a 10 MW project owned by Greening. This project has been integrated, in turn, into the operation with Atitlán. The purchase of the project has involved a disbursement of 5.6 million euros. The renewable group highlights that these operations represent a "giant step" in two strategic lines for the company, such as debt reduction and alliances with partners for the development of photovoltaic parks that will supply energy to EiDF's marketers.
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