The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Professional Services 71 - Architectural and engineering activities; technical testing and analysis 71.1 - Architectural and engineering activities and related technical consultancy 71.12 - Engineering activities and related technical consultancy
160 jobs Number of planned job losses
Announcement Date
24 February 2026
Employment effect (start)
24 April 2026
Foreseen end date
Description
Engel Energy, an Spanish energy company specialised in renewable energy services, is implementing a drastic downsizing, cutting over 160 jobs through individual dismissals and an ERE, leaving just over 60 employees. As part of the restructuring, Engel Energy will close delegations in Canarias, Málaga and Galicia, discontinue certain business units, and reduce investment and marketing expenditure.
The restructuring plan was secured secured court approval last 22 December 2025. despite strong opposition from its banking creditors. Revenues are projected at €11–12 million annually until 2031, far below the €44.6 million recorded in 2023. The revised plan forecasts positive EBITDA in 2026 and requires 75% of cash flow to be allocated to debt repayment.
The plan was supported by commercial creditors (mainly SMEs) and related companies within the group, while major Banks (including Bankinter, CaixaBank, Cajamar, Triodos Bank, ICF and Deutsche Bank) rejected it. Financial institutions holding €24.7 million opposed the proposal, which imposes a 90% cut on their claims. However, the judge ruled that liquidation would yield even lower recoveries.
Eurofound (2026), Engel Energy, Internal restructuring in Spain, factsheet number 204309, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204309.
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