Spanish IPP Opdenergy Transfers All Bruc Projects for 1,101 MW Cumulative Capacity

May 15, 2023 03:29 PM ET
  • These 8 projects are in enhancement to twelve already in the hands of Bruc and have been transferred in recent months.
  • With the transfer of these assets, Opdenergy is approaching 2 GW marketed to third parties in Spain, Italy, Mexico, UK as well as the US.

Renewable resource firm Bruc has actually finished the procurement of eight new solar PV power generation plants from independent renewable resource manufacturer Opdenergy with an advancing capacity of 444 MW. This purchase becomes part of the agreement got to between Bruc as well as Spanish Independent Power Producer (IPP) Opdenergy in August 2021 for the sale as well as acquisition of 20 solar PV power generation plants completing 1,101 MW.

These photovoltaic or pv plants have actually been transferred in accordance with the agreed schedule and lie in the provinces of Valladolid as well as Zaragoza, along with the twelve previously moved plants situated in the provinces of Cádiz, Palencia, Seville, Soria, Teruel and Zaragoza.

With this procedure, Opdenergy transfers to Bruc all the agreed plants and also takes a vital step in the execution of its business plan, as Luis Cid, Chief Executive Officer of Opdenergy, comments, "First of all, we want to thank Bruc for the trust it put in us to perform this project, which began as an interesting project and has actually ended up being an effective fact. The achievement of all the closings related to the transaction with Bruc suggests our implementation as well as dedication to our financiers as well as partners. It also reflects the quality of our projects and highlights the value of the other tidy energy projects under development and allows us to continue performing our company plan."

Opdenergy presently has an operational generation capacity of 680 MW, 1,090 MW under construction that will be taken into procedure in the coming months and 352 MW that will begin building quickly, making it a gamer of virtually 2 GW between procedure and building before completion of 2023.

With the transfer of these assets, Opdenergy is approaching 2 GW offered to 3rd parties in between RTB and COD in Spain, Italy, Mexico, the UK, as well as the United States. This asset rotation approach partly allows the company to finance its future growth, including much more resources to the repeating capital obtained from operating assets and enhancing its generation mix. On top of that, Opdenergy has an added portfolio of projects in various stages of development of around 12 GW that support its development approach.

Bruc presently owns 8,500 MW with accessibility civil liberties to the transmission grid, of which 1,100 MW are currently operational and also at a sophisticated stage of building. Of the staying 7,400 MW, 5,000 MW already have an environmental impact statement.

It might be remembered that in December 2022, Opdenergy revealed becoming part of an agreement to finance its 24 MW project "La Francesca" in Benevento, Italy.

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