CELEO Termosolar acquires Solar Renewables Spain and consolidates its renewable business

CELEO Termosolar SL has filed the merger by absorption project of Solar Renewables Spain SARL with the Commercial Registry of Madrid, as stated in the Official Gazette of the Commercial Registry (BORME) number 168, dated September 1, 2026. The filing, registered on August 4, 2026, appears in the first section of the gazette, under the “Other acts published in the Commercial Registry” section corresponding to Madrid, on page 42079.

The operation is part of the corporate reorganization policy that the CELEO group has been developing in recent years to concentrate its renewable assets. The absorbing company, CELEO Termosolar SL, is one of the group’s subsidiaries dedicated to thermosolar energy, with its registered office in Madrid, and is part of the structure controlled by CELEO Concesiones e Inversiones SL, which has been the sole shareholder of the company since 2019.

A consolidation operation in the renewable sector

A merger by absorption is a mechanism through which an absorbing company integrates the assets of the absorbed company as a whole; the latter is dissolved without liquidation, transferring all its assets, rights, and obligations to the former. In this case, CELEO Termosolar SL acts as the absorbing company and Solar Renewables Spain SARL as the absorbed company.

The filing of the merger project in the Commercial Registry is a mandatory procedure that provides public notice of the operation and opens the period during which the creditors of the intervening companies may exercise their right of opposition under the terms provided for in the regulations on structural modifications of commercial companies.

Background of the CELEO group

The CELEO group has a consolidated track record in the Spanish energy sector, with a presence in the photovoltaic, thermosolar, and grid sectors. Over the last few years, it has carried out several merger by absorption operations to integrate its subsidiaries, most notably:

• The absorption by CELEO Fotovoltaico SA of Helios Almussafes SL, Helios Almussafes II SL, and several Zinertia Renovables companies (2017).
• The integration of Siberia Solar SL and Zinertia Renovables HAE SL into CELEO Fotovoltaico SA (2017-2018).
• The establishment of CELEO Desarrollo Termosolar SL in 2022, oriented towards the promotion and operation of solar thermal energy installations.

The company retains KPMG Auditores SL as its auditor, a firm that has been repeatedly re-elected across the group’s various companies.

Relevance of the operation

The absorption of Solar Renewables Spain SARL by CELEO Termosolar SL represents a further step in the streamlining of the group’s corporate perimeter, concentrating the thermosolar assets and projects into a single company. This type of operation allows for the simplification of the corporate structure, a reduction in management costs, and the strengthening of the resulting entity’s competitive position in an increasingly dynamic renewable market.

The publication in the BORME provides official publicity to the merger project, so that any interested party, and in particular the creditors of the participating companies, may become aware of the full content of the agreements and the merger balance sheets, as well as exercise, where applicable, the right of opposition within the legal timeframe.

Source: Official Gazette of the Mercantile Registry (BORME), no. 168, September 1, 2026, first section (Entrepreneurs, Other acts published in the Mercantile Registry, Madrid), page 42079 (official reference: BORME-B-2026-168-28).