Opdenergy secures €128 million financing for 216MW of Spanish PV

Facebook
Twitter
LinkedIn
Reddit
Email
Three of the projects will be located in Badajoz and will have a cumulative capacity of 131MW, while the other two in Zamora, with 85MW of solar PV between the two projects. Image: Opdenergy.

Spanish independent power producer (IPP) Opdenergy has secured €128 million (US$143 million) to finance 216MW of solar PV in Spain.

The financing has been signed with Spanish bank entity Banco Santander for the development and commissioning of five solar plants, three of which are located in the sunny hotbed of Badajoz, Extremadura – the region is home to Europe’s current largest solar PV plant – and that will be financed with €72.7 million for a cumulative capacity of 131MW.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The other two solar projects will be located in centre-west Zamora, Castilla and Leon, and will have an installed capacity of 56MW and 29MW each, while financing of these projects will be €55.3 million.

All five projects are currently under construction and have all secured long-term power purchase agreements (PPAs) with undisclosed entities.

Luis Cid, CEO of Opdenergy, said: “The financing of these projects supports the solidity of our business model and allows us to continue growing and developing our strategic plan according to schedule.”

Moreover, the Spanish IPP has a portfolio of 1.9GW of assets in operation and under construction across several markets in Europe, the US and Latin America, while it has an additional portfolio of projects with nearly 12.7GW capacity in different stages of development.

Last month the company received a €866 million buyout from private equity firm Antin Infrastructure Partners to acquire the entirety of the shares of the IPP.

Read Next

July 11, 2024
Iberdrola has signed a power purchase agreement with fast food chain Burger King to supply power from part of a 553MW solar PV plant. 
July 11, 2024
German renewables company BayWa r.e has sold a 95MW solar PV plant in Spain to independent power producer Encavis Asset Management.
Premium
July 11, 2024
Simon Yuen takes a close look at Soltec’s floating solar tracker, which the company says is based on naval design principles.
July 9, 2024
Spain has passed a regulation regarding the installation of floating solar PV (FPV) on reservoirs in the country.
July 3, 2024
Spanish renewable power developer Zelestra has added €225 million (US$242.1 million) in loan financing to its funding streams.
July 1, 2024
Chinese module manufacturer Trina Solar has signed a collaboration agreement with IES-UPM to drive innovation in the solar industry.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA
Solar Media Events
October 15, 2024
Santiago, Chile