Spanish renewables group Greening exits Morocco and France
Greening has confirmed its withdrawal from Morocco, where it opened its first overseas office in 2013. The Spanish renewable energy group is also leaving France and preparing to exit Germany as part of a restructuring that has cut its operating costs by more than half.
Ignacio Salcedo, Greening’s executive chairman, now classifies France and Morocco as “non-strategic markets.” In a LinkedIn post, he confirms the exit from both countries and says the withdrawal from Germany is still under way.
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The reduction in the number of countries where the group operates comes alongside a drop of more than 50% in operating costs compared with the previous year. Salcedo says he wants to focus the group’s resources on markets where he believes it can generate greater value and profitability, while simplifying its organization.
Chief Financial Officer Felipe García Agustín stands by the decisions made. Sharing an interview with El Economista, he refers to the “unpleasant” measures that had to be implemented to cut spending across all activities. He says the company will continue making the necessary adjustments to meet its commitments to investors.
Morocco was home to Greening’s first overseas office
For Greening, leaving the kingdom closes a chapter that began thirteen years ago. Its official history dates the opening of its first office outside Spain to Morocco in 2013. The company later completed what was then its largest photovoltaic self-consumption project in 2018.
However, the divestment was under way before this latest announcement. On April 20, the presentation of its 2026-2030 strategic plan listed Morocco among the markets Greening wanted to exit, alongside Germany and Mexico, Diario Siglo XXI reports.
The decision comes as other Spanish groups remain involved in major Moroccan water and energy projects, including Acciona, Cox and Lantania.
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Greening’s new strategy prioritizes Spain and Italy. In the United States, the plan presented in April calls for a different approach: developing energy projects and then selling them to investors.
The group is focusing in particular on industrial self-consumption, electricity sales and battery storage. It also plans to develop biomethane and solar panel recycling activities with partners.