Opdenergy signs a new REPA with AEP Energy Partners and expands its presence in the United States

22/07/2021

  • As part of this 15-year agreement, the renewable energy firm will develop a solar PV plant with an installed capacity of 63 MWdc in Clarke County, Virginia
  • Opdenergy is making progress in the commissioning of this plant, which is expected to reach RtB in 2023

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Opdenergy signs a new REPA with AEP Energy Partners and expands its presence in the United States

Madrid, July 22nd, 2021. Opdenergy, an independent sustainable energy producer focused on solar PV and onshore wind technologies, has announced the closing of a new Renewable Energy Purchase Agreement (REPA) in the United States with AEP Energy, a subsidiary of American Electric Power (Nasdaq: AEP).

Under this 15-year power purchase agreement, Opdenergy will develop a solar PV plant with an installed capacity of 63 MWdc in Clarke County (Virginia). As part of the agreement AEP Energy will acquire 100% of the energy generated by this project.

Opdenergy continues to work at a good pace to advance the development of this new PV plant in the United States and expects to reach RtB in 2023 while the connection to the grid is expected to be fulfilled during H1-2024. Once operational, it will generate close to 112 GWh of clean energy per year.

This new agreement ratifies the company’s commitment to consolidate its growth in the renewable energy sector in this country. The company recently closed another REPA with AEP Energy to build a 100 MWdc photovoltaic plant in Jefferson County, West Virginia, which will supply clean energy to AEP Energy’s customers for a period of 12 years. These two agreements with AEP Energy, together with another PPA signed at the end of last year, add a total of 253 MWdc which Opdenergy has signed energy purchase agreements in the country. Opdenergy continues to actively develop renewable assets in the United States, through its total pipeline of 2,5GW in different stages of advancement.

Luis Cid, CEO of Opdenergy, stated: “Currently, the United States represents a great opportunity for renewable energies and Opdenergy is very well positioned to take advantage of it and boost the company’s growth in this market. We are very excited to sign this new agreement with AEP Energy. After years working with the aim of being a key player in the development and implementation of clean energies in the energy mix of the countries in which we are present, we can confirm that we are on the right track with this new milestone. Opdenergy is committed to continue developing projects like this one in order to fight against climate change and build a more sustainable future at a global level.”

Greg Hall, Executive Vice President, Energy Supply, said: “AEP Energy is committed to working with our customers to deliver custom energy solutions that fit their unique needs and goals. This solar project in Virginia will enable us to continue providing the clean, reliable energy our customers expect. We look forward to our continued partnership with Opdenergy as we work together to build a clean energy future.”

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