BBVA Finances 725 MW PV of Opdenergy

Renewable Energy Firm Opdenergy Agrees with Spanish Bank BBVA On €500 Million Financing for 725 MW Solar Project Capacity In Spain

BBVA Finances 725 MW PV of Opdenergy

Spanish bank BBVA will finance the development, construction and commissioning of Opdenergy's 725 MW backlog projects portfolio in Spain, including projects in Aragon, Zaragoza, Castilla La Mancha and Cuenca. (Photo Credit: Opdenergy)

  •  Spanish bank BBVA has received Odpenergy’s underwriting mandate for financing the development, construction and commissioning of its backlog project portfolio in Spain
  • The financing will be structured for long-term and will cover 18 solar parks located in different parts of Spain
  • Opdenergy plans to develop and build several projects in Aragon and Zaragoza
  • In Castilla La Mancha, Opdenergy will develop and build the Manzanares 1 solar plant with an installed capacity of approximately 37 MW

Spanish renewable energy firm Opdenergy has given Banco Bilbao Vizcaya Argentaria (BBVA) the underwriting mandate for financing the development, construction and commissioning of its backlog project portfolio in Spain, with a total expected installed capacity of approximately 725 MW and worth close to €500 million. Out of this amount, up to €76 million will be for guarantees linked to PPAs and up to €20 million will be for guarantees related to the reserve accounts.

The financing will be structured for long-term and will cover 18 solar parks located in different parts of Spain, grouped into 9 clusters. Opdenergy plans to develop and build several projects in Aragon, including the 37.5 MW La Estación solar plant located in Teruel; in Zaragoza, it will include Los Arcos 50 MW plant; a 62.5 MW plant in Los Cartujos; 150 MW in Montetorrero; and the 62.5 MWp Centrovia PV park.

Apart from this, in Castilla La Mancha, Opdenergy plans to develop and build the Manzanares 1 solar plant with an installed capacity of approximately 37 MW in Ciudad Real; and another 150 MW corresponding to the Minglanilla solar plant, located in Cuenca. In the province of Zamora, Opdenergy will build two plants of 25.4 MW and 50 MW of installed capacity. The development and construction of approximately 100 MW of additional capacity is also planned with the Gazules 1 and 2 facilities, both located in the province of Cadiz.

Speaking about this development, Opdenergy CEO Luis Cid, said: “Obtaining these funds will allow us to continue developing projects in Spain, a fact that will undoubtedly boost even more the importance of our country as a key player in the development of clean energies worldwide”.

In 2019, Opdnergy contracted Risen Energy to supply modules for its Spanish projects (see Risen Modules For 261 MW Spanish Solar Projects).

 

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