Opdenergy receives new administrative permits for its renewable energy projects in Spain

30/04/2021

  • The PV plant located in the Spanish town of Manzanares, Ciudad Real, obtains the Construction Administrative Authorization, while Los Arcos PV plant, in the region of Zaragoza, receives a favorable Environmental Impact Permit
  • These projects are part of the underwriting agreement reached with BBVA for the financing, through long-term project finance, of the company's backlog projects in Spain with a total expected installed capacity of approximately 725 MWp and for an amount up to EUR 500 million
  • The Company reaffirms its commitment regarding the implementation of its renewable energy projects in Spain, one of its main markets

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Opdenergy receives new administrative permits for its renewable energy projects in Spain

Madrid, 30 April 2021. Opdenergy Holding, S.A. (“Opdenergy” or the “Company”), an independent producer of sustainable energy, focused on solar photovoltaic and onshore wind technologies, is making progress in the processing of its renewable energy projects in Spain. Specifically, Opdenergy has obtained the Administrative Construction Authorization for its PV plant located in the Spanish town of Manzanares, in Ciudad Real, with an expected installed capacity of 37 MWp. Meanwhile, Los Arcos PV plant in the province of Zaragoza, with an expected installed capacity of 50 MWp, has obtained a favorable Environmental Impact Permit.

These projects, which are expected to start construction by the end of 2021, are advancing in the administrative process required prior to their construction and start-up.

These projects are part of the agreement recently reached with BBVA for the financing of the development, construction, and commissioning of Opdenergy’s backlog in Spain, with a total expected installed capacity of approximately 725 MWp and for an amount up to EUR 500 million (of which up to EUR 76 million would be for guarantees linked to the PPAs and up to EUR 15-20 million would be for guarantees related to the reserve accounts usual in this type of transaction) and is scheduled to be launched before the summer of 2021.

Luis Cid, Opdenergy’s CEO, stated: “These authorizations, granted by the Public Administration, allow us to go ahead in the implementation of our renewable energy projects and consolidate our presence as an independent renewable energy producer in Spain, one of our main markets.”

Backlog project portfolio: 18 PV plants in four Spanish regions

Opdenergy plans to develop 18 PV projects, grouped in 9 clusters, located in different parts of Spain. Specifically, the company intends to develop and build several projects in Aragon: La Estación PV plant, located in Teruel, with an expected installed capacity of approximately 37.5 MWp; and in Zaragoza, the previously mentioned Los Arcos PV plant, as well as Los Cartujos[1], Montetorrero[2] and Centrovia[3], with an expected installed capacity of approximately 50 MWp, 62.5 MWp, 150 MWp and 62.5 MWp, respectively.

Furthermore, in Castilla La Mancha, Opdenergy plans to develop and build the previously mentioned Manzanares 1 PV plant with an expected installed capacity of approximately 37MWp, located in Ciudad Real, and another 150 MWp corresponding to the Minglanilla[4] solar plant, located in Cuenca. In the province of Zamora, Opdenergy will start up two plants of 25.4 MWp (Las Mulas) and 50 MWp (Las Capillas) of expected installed capacity. The development and construction of approximately 100 MWp of additional capacity is also planned with the Gazules 1 and Gazules 2 facilities, both located in the province of Cadiz.

[1] The Los Cartujos project consists of Los Cartujos 1 (c. 25 MWp), Los Cartujos 2 (c. 12.5 MWp) and El Fede (c.25 MWp).

[2] The Montetorrero project consists of Vallobar (c.50 MWp), Plana de la Pena 1 (c.50 MWp) and Plana de la Pena 2 (c.50 MWp).

[3] The Centrovia project consists of Peñaza (c.12.5 MWp) and Larral (c.50 MWp).

[4] El proyecto Minglanilla está compuesto por Covatillas 2, Covatillas 3 y Covatillas 4, de c.50 MWp cada uno.

 

For further information:

KREAB

Óscar Torres

otorres@kreab.com

Tlf. +34 685 929 026

 Eva Tuñas

etunas@kreab.com

Tlf. +34 635 18 64 19