Opdenergy closes funding for Italian solar farm

• The EUR16.5 m deal covers the company's La Francesca project

Independent renewable resource producer Opdenergy has actually signed the financing of its 24MW La Francesca solar project in Italy for a total of EUR16.5 m.

The solar project, which is under construction, will certainly sell 100% of its energy on a merchant basis once it finishes its building and construction and starts its operation.

With this new purchase, Opdenergy continues to enhance its presence in the Italian market, where it has been operating generation plants since 2010 and where it has more than 1GW of additional projects under development.

The La Francesca project will generate more than 38GWh of green energy annually, which is approximately equivalent to the yearly consumption of 11,000 families and CO2e emissions savings of 11,000 tonnes each year, according to the current emission variables released by AIB for the electrical power production mix in Italy.

Luis Cid, CEO of Opdenergy, stated: "With the financing of this project, we continue to consolidate our presence in the calculated Italian market where we will certainly grow dramatically in the coming years thanks to the many projects that we have in sophisticated stage of development."