Opdenergy secures funds for 167 MW of solar projects in Spain

Spanish renewables developer Opdenergy Holding (BME:OPDE) announced today that it has closed the financing for the construction and commissioning of a roughly 167-MW solar portfolio at home.

Opdenergy has signed a EUR-107-million (USD 108.6m) green finance deal with Dutch lender ING Group (AMS: INGA).

The financing has an 11-year tenor, including the construction phase. It also includes a long-term project finance senior debt, a power purchase agreement (PPA) guarantee line and a credit facility to cover the debt service reserve account, the renewables developer said.

With this new agreement, Opdenergy moves closer to its growth objective of reaching 3.3 GW of renewables projects in operation and under construction by 2025.

The company, which went public on the Spanish stock market last week, secured a few days ago the funds for the construction and commissioning of 605 MW of solar photovoltaic (PV) projects in Spain. The financing will be provided by BBVA (BME:BBVA) and the European Investment Bank (EIB).

(EUR 1.0 = USD 1.015)

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