- The transaction involves the refinancing of three solar plants located in Aragon with a total capacity of 111 MW.
- This deal is categorized as a green loan and complies with the Green Loan Principles.
- The refinancing has an 18-years tenor.
Madrid, 17th December 2021. Opdenergy, an independent sustainable energy producer focused on solar photovoltaic and onshore wind technologies, announced the closing of the refinancing of three solar plants with Banco Sabadell for an amount of close to 62 million euros. Specifically, this refinancing covers the following solar plants: Los Belos, with 50 MWp, located in La Muela (Zaragoza); El Muelle, with a capacity of 11 MWp located in Muel (Zaragoza) and Montesol, with 50 MWp, located in Cañada Vellida (Teruel), all of them are operating assets since the third quarter of 2020.
With this new transaction, Opdenergy demonstrates its capacity to continue growing in cooperation with leading financial institutions such as Banco Sabadell. In this sense, the company and the bank have agreed this refinancing with a tenor of 18 years. These loans are classified as “green” and comply with the principles designated within the “Green Loan Principles”, which aim to promote sustainability and offer clear environmental benefits.
These three projects generate more than 205 GWh of green energy every year, which is approximately equivalent to the annual consumption of 62,000 homes in Spain and a saving in CO2 emissions of 31,000 tonnes per year, according to the emission factors published by the National Commission for Markets and Competition (2020 CNMC).
In this transaction Opdenergy has been advised by Evergreen Legal while Banco Sabadell has been advised by Watson Farley & Williams Spain.
Luis Cid, CEO of Opdenergy, said: “Through this financing we strengthen our collaboration with Banco Sabadell, one of our allies for the execution of our growth plan in the coming years. The closing of this milestone allows us for a more efficient financial structure adapted to our needs and aligned with our growth strategy “.
Roger Font, Director of Project Finance at Banco Sabadell, stated: “It is a great opportunity to work with Opdenergy, one of Spain’s leading renewable energy companies. By financing these projects, we reinforce the bank’s position as a benchmark in financing green energy projects and make progress on the objectives of Banco Sabadell’s Sustainable Finance Plan. Since 2018, we have financed 113 projects worth more than €2.7 billion in the Iberian Peninsula, structuring a capacity of more than 5 GW “.
About Opdenergy
Opdenergy is a consolidated and fully integrated independent sustainable energy producer, focused on solar photovoltaic and onshore wind energy production, with more than 15 years of experience. The company has successfully developed several projects in different parts of the world, thanks to its strong international presence. Opdenergy is present and has projects under development in Europe – Spain, Italy, United Kingdom, France and Poland – and in America – United States, Chile and Mexico.
The company has an operating portfolio of 584 MW, including assets in Spain, Chile, Italy and Mexico. In addition, these assets are backed by a solid and visible portfolio of Secured projects of 1.5 GW and additional projects of more than 6GW that support its growth strategy. Opdenergy has secured more than 2GW of PPA contracts in different countries with investment grade off-takers and in hard currencies in the different countries in which it operates.
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