Spanish IPP Opdenergy aims to raise €400m in initial public offering

Facebook
Twitter
LinkedIn
Reddit
Email
Opdenergy’s 50MW La Fernandina PV project in western Spain. Image: Opdenergy.

Spanish independent power producer (IPP) Opdenergy is preparing to launch an initial public offering (IPO) to help fund the development of 3.7GW of renewables projects across Europe and the Americas.

The company’s plan to float on the Spanish Stock Exchanges consists of a primary offering, expected to raise proceeds of €400 million (US$475 million), and a secondary offering by an existing shareholder that owns around 15.6% of the current share capital to raise proceeds of around €17 million (US$20 million).

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

Opdenergy said the listing represents the next step in its development and transformation to become a large-scale geographically diversified IPP.

Over the past 15 years, the company has developed and overseen the commissioning of more than 800MW of solar PV and wind capacity from over 70 projects. Its current operating, ready for operation and under construction portfolio includes 131 PV plants and one onshore wind farm with total capacity of 584MW, of which around 104MW corresponds to the Sol de los Andes solar project under construction in Chile.

Opdenergy has a pipeline of projects in five European counties (Spain, Italy, the UK, France and Poland) and three markets in the Americas (the US, Chile and Mexico).

The IPO represents a “key milestone” for the company in its path to become a large-scale IPP in both regions, said Luis Cid, CEO of Opdenergy, adding: “The offering proceeds will allow us to accelerate and fuel our ambitious business plan.”

Santander and Citigroup will be joint bookrunners and coordinators for the offering, while Alantra, BofA Securities Europe, Berenberg and RBC Capital Markets will also be joint bookrunners. Evercore and Rothschild & Co will be financial advisers for the company.

With increased investor demand for clean energy assets, there has been an uptick in IPOs among Spanish solar players in recent months. Earlier this week, renewables developer Ecoener revealed plans for its own IPO, aiming to raise up to €200 million (US$237.6 million) to support an expansion of its project pipeline.

Tracker manufacturer Soltec listed on the Spanish Stock Exchange in October, an IPO that the company said showed strong investor demand. Proceeds are being used to address growth opportunities in the solar market as well as finance the business plan of the firm’s Powertis project development unit.

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.

Read Next

June 30, 2025
Eni subsidiary Plentiude has started operations at the northern block of its 330MW Renopool solar portfolio in Spain.
June 30, 2025
The Spanish government has launched a €100 million (US$117 million) aid programme to help promote the recycling and reuse of materials from renewable energy projects.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 25, 2025
The Spanish government has approved a series of measures aimed at reinforcing the electrical system and strengthening the supervision of operators.
June 25, 2025
Spanish energy utility giant Iberdrola has appointed the former CEO of its US renewable energy development subsidiary, Avangrid, as its new head.
June 24, 2025
FRV has started commercial operations at its 55MW Masrik-1 PV project in Armenia, the largest to enter operation in the country.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico