January 23 (Renewables Now) - Renewables developer OPDEnergy has secured the financing it needed to realise a 111-MWp portfolio comprising three solar photovoltaic (PV) projects in the Spanish region of Aragon.
The Spanish company’s three special purpose vehicles (SPVs) have obtained EUR 57 million (USD 63m) in project finance from Banco Santander SA (BME:SAN), the lender’s advisor Watson Farley & Williams announced on Thursday.
The funds will support two 50-MWp projects, Los Belos and Montesol, and the 11.2-MWp El Muelle scheme. All three are currently under construction and are due to come online in the fourth quarter of 2020. Once in operation, the solar parks together are expected to generate more than 207 GWh.
In a separate statement, OPDEnergy said it had signed power purchase agreements (PPAs) with Centrica plc (LON:CNA) for a part of the output generated by each facility.
(EUR 1.0 = USD 1.105)