OPDE closes €100m finance deal in Spain

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OPDE, the Spanish solar developer, has now closed a €100 million project finance deal to build two PV solar plants with a combined capacity of 22MW. The project finance agreement has been signed with investment banks Banco Santander, La Caixa and BBVA.

This deal will allow the company to construct an 11MW plant in Valtierra, Navarra, as well as a comparable site in Tordesillas, Valladolid. OPDE is now one of the largest PV developers in the world, with a 20% market share in ground mounted solar plants and a total of 115MW of solar capacity in Spain over the past five years.

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OPDE director general Ramon Tejadas said, “Cost-effective photovoltaic projects, with predictable cash flows, and companies like group OPDE with solvent and strengthened balance sheets, continue to have important options for financing projects in a difficult financial environment.”

In 2009 OPDE constructed over 28MW in solar plants and plans for the construction of a further 20MW of capacity in 2010.

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