Opdenergy bags EUR 50m in debt for more solar in Spain, US

Spanish renewable power producer Opdenergy Holding SA has secured EUR 50 million (USD 53.6m) in debt financing to back the development of solar projects at home and in the US.

Two credit lines have been agreed with domestic lender CaixaBank (BME:CABK), Opdenergy said on Thursday. They will be extended under the company’s green financing framework and will enable the issue of documentary credits and guarantees.

Specifically, the debt is expected to be used to issue guarantees for interconnection and power purchase agreements (PPAs) for projects in the US, as well as for documentary credits for assets in Spain, among others.

Including the new facilities, the total financing under Opdenergy’s green framework has exceeded EUR 200 million, the Spanish firm noted. The credit lines follow the registry of OpdEnergy’s EUR-100-million promissory notes programme on Spain’s alternative fixed-income market MARF at end-2021.

“This new financing agreement we have reached with CaixaBank will help us to continue to highlight our role in the clean energy industry and the importance of making investments and developing projects that have a positive impact on the environment, both nationally and internationally,” said Luis Cid, CEO of Opdenergy.

(EUR 1.0 = USD 1.071)

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