Opdenergy concurs sale of 1-GW-plus solar portfolio in Spain

Aug 9, 2021 12:24 PM ET
  • Spanish independent power producer (IPP) Opdenergy Holding SA has gotten to an agreement to sell a 1,044-MW solar portfolio in Spain to Madrid-based renewables financial investment vehicle Bruc Energy, the events introduced on Monday.
Opdenergy concurs sale of 1-GW-plus solar portfolio in Spain
Image: Opdenergy

The capability represents 20 solar projects, with approved grid accessibility civil liberties, located across provinces of Cadiz, Seville, Valladolid, Burgos, Soria, Zaragoza as well as Teruel.

The transaction defines that Opdenergy is to proceed establishing the projects till they all get to the ready-to-build phase, which is anticipated to happen slowly in the second fifty percent of 2022. In 2022, the properties will certainly be moved to Bruc Energy.

Financial regards to the contract were not disclosed.

Profits from the portfolio sale will certainly allow Opdenergy to fund the growth of projects in the backlog, completing 942 MW in Spain as well as the US. In addition to these, the IPP will reach 585 MW of generating capability in Spain, Mexico, Italy and also Chile by the end of 2021, the press launch states.

For Bruc Energy, a vehicle established by Spanish fund supervisor Bruc Management, the portfolio procurement will certainly assist it surpass 5,000 MW of renewables in operation, under construction as well as growth.

The presence of Canadian pension fund OPTrust and also UK exclusive pension fund, the Universities Superannuation Scheme (USS), in Bruc Energy's shareholding framework will guarantee the financing of the gotten projects, the firms stated.

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