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UPDATE 1-Green energy firm Ecoener slashes size of Spain's first IPO this year

(Adds order books covered, background on other scheduled listings)

MADRID, April 28 (Reuters) - Spanish renewable energy company Ecoener has slashed the target size of its share issue by almost half, a day before closing order books and fixing a final price for what will be Madrid’s first initial public offering this year.

Ecoener had planned to raise up to 200 million euros ($219 million) to spend on new facilities including wind farms and solar parks, but said on Wednesday it was now aiming for a maximum of 110 million euros.

“During the process of placement (of orders for stock) Ecoener decided to adjust the size of the initial offering of ordinary shares,” the company said in a stock market filing.

A person familiar with the matter said the order books had been covered on Wednesday at the lower end of a 5.90 to 7.25 euro price range.

It did not explain why it had trimmed the deal, which is the first in a series of public share sales in Spain this year aiming to capitalise on investor appetite for businesses linked to reducing global carbon emissions.

Founded by chairman and sole shareholder Luis de Valdivia, most of Ecoener’s assets are in Spain, with much of the rest in Honduras and Guatemala.

Under the original plan, the company aimed to raise 182 million euros with the chance to sell more via a so-called greenshoe option, but the base amount is now 100 million euros, with the chance to add a further 10%.

Ecoener expects to start trading on the stock market on May 4, making it the first IPO in Madrid since solar generation equipment maker Soltec in October.

Societe Generale is global coordinator for the deal. Banco Sabadell, Caixabank, Credit Agricole and HSBC are joint bookrunners, and Banco Cooperativo Espanol is co-lead manager of the IPO.

Madrid is gearing up for its first flotation this year on Thursday when Bankinter is due to list its insurance business, Linea Directa, in a process which will not involve the sale of any new shares.

Another Spanish renewable energy developer, Opdenergy, is currently taking orders for its own IPO and expects its shares to start trading on May 7. ($1 = 0.8286 euros) (Reporting by Isla Binnie; Editing by David Clarke)

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