OPDEnergy obtains financing for 144 MWp of solar projects in Mexico

Spanish renewable energy firm OPDEnergy announced on Thursday it has signed two project financing deals with Sumitomo Mitsui Banking Corporation (SMBC) for 144.2 MWp of solar projects in Mexico.

Specifically, the bank is providing USD 86 million (EUR 78.7m) for the 106.5-MWp Andalusia II and the 37.7-MWp Aguascalientes Sur I photovoltaic (PV) projects.

OPDEnergy itself expects to invest a further USD 62 million in the two projects. It will be in charge of the operation and maintenance (O&M) of the plants as well as the engineering, procurement and construction (EPC) works, the firm noted.

Located in the states of Coahuila de Zaragoza and Aguascalientes, respectively, these facilities are expected to go online in the last quarter of 2019. Their output will be used mainly to supply local homes.

Secured during the second energy tender in 2016, the PV plants have 15-year power purchase agreements (PPAs) and 20-year clean energy certificates (CELs), the company said.

(USD 1 = EUR 0.915)

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