Opdenergy completes the buy-back of 80% of three Spanish solar PV plants from Marguerite II

23/03/2021

  • The solar PV plants were developed by Opdenergy and are fully operational since the last quarter of 2019
  • The three solar PV plants have an aggregate installed capacity of 150 MW
  • With this acquisition, Opdenergy increases its attributable capacity in Spain to 261 MW and globally to 468 MW vs its total gross capacity of 584MW

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Opdenergy completes the buy-back of 80% of three Spanish solar PV plants from Marguerite II

Madrid, 23 March, 2021. Opdenergy has consummated the purchase from the European infrastructure fund Marguerite II of 80% of three solar photovoltaic (“PV”) plants in Spain, as part of its path towards becoming a large-scale IPP in Europe and the Americas. With this transaction Opdenergy will own 100% of the plants and will increase its aggregate attributable installed capacity in Spain to 261 MW and globally to 468 MW vs. its aggregate gross installed capacity of 584 MW[1].

The solar PV plants which were developed by Opdenergy are fully operational since the last quarter of 2019, and during 2020 recorded an aggregate joint production of c.300 GWh. These solar PV plants were awarded to Opdenergy at the public auction of 2017. Each of the projects has a 10-year bilateral synthetic PPA with Centrica, the British investment grade utility company.

The three solar PV plants have an aggregate installed capacity of 150 MW (50 MW each). La Fernandina solar PV plant is located in Mérida (Badajoz) and is extended over a c. 110ha land plot, Miramundo solar PV plant is located in Puerto Real (Cádiz) and is extended over a c.120ha land plot and Zafra solar PV plant is located in Alcalá de la Guadaira (Seville) and is extended over a c.130ha land plot.

Luis Cid, CEO of Opdenergy, remarks: “We continue towards our path to become a large-scale IPP in Europe and the Americas. With this transaction we now own 100% of all of our plants except for those located in Mexico. The soundness of our business model, the team of great professionals which make Opdenergy possible and the trust of partners such as Marguerite II, allows us to be optimistic towards the implementation of our strategy in the coming years.”

 The aggregate environmental impact of these plants is particularly relevant. La Fernandina, Miramundo and Zafra are expected to generate enough power to supply approximately 78,000 homes and to prevent the emission of around 120,000 tons of CO2 into the atmosphere, according to the emission factors published by the Spanish Office for Climate Change (OECC).

 

For more information please contact:

KREAB

Óscar Torres

otorres@kreab.com

Tel. +34 685 929 026

 Mónica Pastor

mpastor@kreab.com

Tel. +34 691435500

 Eva Tuñas

etunas@kreab.com

Tel. +34 635 18 64 19

 

[1] Includes both projects in operation and under construction.