Opdenergy inks funding for 605 MW of solar projects in Spain

• Spanish renewables designer Opdenergy Holding (BME: OPDE) on Friday said that it has actually safeguarded the funding it required to build and also commission some 605 MW of solar PV projects in Spain.

Opdenergy, which revealed this financing as it was getting ready for a going public (IPO) recently, closed the agreement with Spanish lending institution BBVA (BME: BBVA) and also the European Investment Bank, obtaining a EUR-301-million (USD 306.7 m) senior debt, a EUR-29-million power purchase agreement (PPA) guarantee line as well as a EUR-17-million line of credit center to cover six months debt solution book account.

The center has a tenor ranging from 18 years to 18 and a half years, including the construction phase, Opdenergy said.

The funds will certainly be spent on solar projects situated in different provinces of Spain.

The loaning follows the wind as well as solar energy programmer efficiently completed the EUR-4.75 per share IPO last week, increasing approximately EUR 200 million for more renewables advancement as part of its service plan via 2025. Its stock was noted on Friday.