Madrid, December 22ndnd, 2021. Opdenergy, an independent renewable energy producer (IPP) focused on photovoltaic and onshore wind technologies, has announced that it has signed a new power purchase agreement (PPA) with an investment grade European utility.
This agreement represents one of the largest bilateral PPAs that has been signed by an IPP in Europe to date, with a total output of 750 MW over a period of 10 years and an annual supply of more than 1 TWh of energy. Opdenergy is continuing to develop the solar systems with the aim of starting construction in the first half of 2022.
The implementation of these 17 projects will mean a major economic and social boost for the regions of Teruel, Zaragoza, Badajoz, Cuenca and Valladolid and will also add to the clean energy share of the country’s energy mix as these 750 MW generate enough energy to power more than 450,000 To supply households per year.
This agreement in Spain will be added to the PPAs concluded in the first half of the year as well as the PPAs of the operating assets, so that there is a total capacity commitment of 1,400 MW with long-term power purchase agreements in Spain.
In addition, this new agreement demonstrates the company’s ability to enter into these types of power purchase agreements before the assets are operational. Opdenergy currently has a large portfolio of secured long-term PPAs with a total capacity of approximately 3 GW of committed capacity in various markets. These PPAs cover an operating capacity of 584 MW and nearly 2.2 GW on future projects in the various countries in which the company operates.
Our New Energy advised Opdenergy on the closing of the transaction.
Luis Cid, CEO of Opdenergy, Conditions: “The implementation of all these projects in Spain represents a very important impetus for the decarbonization of the country and at the same time contributes to the stimulation of the economies of different regions of Spain. With this new milestone, we are consolidating our position as one of the most important independent producers in the renewable energy sector in Spain.“
Opdenergy is a consolidated and fully integrated independent sustainable energy producer focusing on solar photovoltaics and onshore wind power generation with more than 15 years of experience. Thanks to its remarkable international presence, the company has successfully developed numerous projects in different parts of the world. Opdenergy is present in Europe – Spain, Italy, Great Britain, France and Poland – and in America – the United States, Chile and Mexico – and has projects under development.
The company has an existing portfolio of 584 MW, including assets under construction and operation in Spain, Chile, Italy and Mexico. In addition, these assets are backed by a strong and visible portfolio of Secured projects of 1.5 GW and other additional projects of more than 6 GW that support the growth strategy. Opdenergy has approximately 3 GW of investment grade PPA contracts in various countries and in hard currencies in the various countries in which it operates.
For more information: KREAB