Opdenergy launches a €100M green promissory notes program on the MARF

29/12/2021

  • The funds raised through this program will be used to diversify the company's financing sources, improve the average cost of debt and support the firm's growth
  • This transaction will further consolidate Opdenergy's position in the renewable energy sector in different markets
  • This program is aligned with the Green Loan Principles and the Green Bond Principles, demonstrating Opdenergy's commitment to the environment

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Opdenergy launches a €100M green promissory notes program on the MARF

Madrid, December 29, 2021. Opdenergy, an independent sustainable energy producer focused on solar photovoltaic and onshore wind technologies, has registered a promissory notes program in the Alternative Fixed-Income Market (“MARF”).

The green promissory note program contemplates a maximum outstanding balance of €100M. The company will use this program to reach qualified investors with an interest in financing renewable energy companies, diversifying its sources of financing while optimizing the average cost of its debt. This transaction will allow Opdenergy to finance its working capital needs, as well as facilitate its growth in the coming years, which will boost its position as a relevant player in the international renewable energy industry.

The green notes promissory program has been conducted within the framework of the Green Loan Principles (GLP) of the Loan Market Association (LMA) and the Green Bond Principles (GBP) of the International Capital Markets Association (ICMA).

Opdenergy has Banco Santander and Bestinver Securities as placement entities of the program. Banco Santander has also collaborated as Arranger, Green Bond Structuring Agent and will be the Payment Agent of the issues. PricewaterhouseCoopers (PwC) is the Registered Advisor of Opdenergy in the MARF and Evergreen Legal has provided legal advice to the company.

Sustainable rating

In alignment with the Green Finance Framework, Opdenergy has relied on Morningstar Sustainability ESG Rating; a leading company that rates the sustainability of companies in terms of their environmental, social and corporate governance performance, to obtain a ‘Second Party Opinion’ (SPO).

The report finds that the Green Finance Framework has a positive impact and is aligned with the four main components of the Green Bond Principles 2021 and the Green Loan Principles 2021. Specifically, this report highlights that the related investments contribute to a positive environmental impact and to promote the UN Sustainable Development Goals, in particular SDG 7 which contemplates the development of affordable and clean energy. Furthermore, this analysis also highlights how Opdenergy guarantees the implementation of a risk management system and an environmental impact reporting for its projects in line with standard market practices.

Luis Cid, CEO of Opdenergy, pointed out: “The launch of this promissory note program demonstrates once again our ability to seek alternative ways to finance our growth. We will continue working to highlight our role in the clean energy industry and the importance of investing in and developing projects that have a positive impact on the environment”.

 

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. Furthermore, these assets are backed by a robust and visible pipeline with 1.5GW of secured assets and further projects with more than 6GW which support its growth strategy. Opdenergy has secured close to 3GW of PPA contracts throughout different countries with Investment Grade off-takers and in hard currencies.

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