Opdenergy signs one of the largest renewable PPAs in Europe with 750MW

22/12/2021

  • This agreement covers a total of 750MW with the delivery of more than 1TWh per year for 10 years.
  • The company continues to work on the development of these projects that will begin construction during the first half of 2022.
  • This agreement, added to the rest of the PPAs signed during the year in the USA, Chile and Spain, increase the company’s committed capacity with long-term agreements to about 3GW in projects that Opdenergy will operate as IPP.

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Opdenergy signs one of the largest renewable PPAs in Europe with 750MW

 

Madrid, December 22nd, 2021. Opdenergy, an independent renewable energy producer (IPP) focused on solar photovoltaic and onshore wind technologies, has announced the closing of a new power purchase agreement (PPA) with a European investment grade utility.

This agreement represents one of the largest bilateral PPAs signed so far in Europe by an IPP, covering a total of 750MW over a 10-year period and delivering more than 1TWh of energy each year. Opdenergy continues to develop the solar plants with the objective of starting construction during the first half of 2022.

The implementation of these 17 projects will be a great economic and social boost for the regions of Teruel, Zaragoza, Badajoz, Cuenca and Valladolid, and will also contribute to the percentage of clean energy within the energy mix of the country, since these 750MW will generate energy enough to supply more than 450.000 homes per year.

This agreement in Spain is added to the PPAs closed during the first half of the year, as well as the PPAs of the operating assets, making a total of 1,400MW of capacity commitment with long-term power purchase agreements in Spain.

Furthermore, this new agreement demonstrates the company’s capacity to close this type of Power Purchase Agreements, even before the assets are operational. Opdenergy currently has a large portfolio of secured long-term PPAs totaling approximately 3GW of committed capacity in different markets. These PPAs cover the 584MW of operating capacity and close to the 2.2GW of future projects, across the different countries in which it operates.

Our New Energy has advised Opdenergy on the closing of the transaction.

Luis Cid, CEO of Opdenergy, states: “The implementation of all these projects in Spain represents a very important boost for the decarbonization of the country while helping to boost the economy of different regions of Spain. With this new milestone we consolidate our position as one of the most important independent producers in the renewable energy industry in Spain.”

 

About Opdenergy

Opdenergy is a consolidated and fully integrated independent sustainable energy producer, focused on solar photovoltaic and onshore wind energy production with more than 15 years’ experience. The company has successfully developed numerous projects in different parts of the world, thanks to its remarkable international presence. Opdenergy is present and has projects under development in Europe -Spain, Italy, United Kingdom, France and Poland- and in America -United States, Chile and Mexico-.

The company has an existing portfolio of 584 MW, including assets in operation and construction in Spain, Chile, Italy and Mexico. In addition, these assets are backed by a strong and visible portfolio of projects under the Secured category of 1.5 GW and other additional projects of more than 6GW that support its growth strategy. Opdenergy has secured about 3GW of PPA contracts in different countries with investment-grade off-takers and in hard currencies in the different countries in which it operates.

 

For further information: KREAB

Óscar Torres

otorres@kreab.com

Tlf. +34 685 929 026

Eva Tuñas

etunas@kreab.com

Tlf. +34 635 18 64 19