• These credits are categorized as green loans and follow the Green Loan Principles.
• The credit lines will allow the issue of documentary credits and guarantees for different projects of the company in Spain and the United States, among others.
• With these new credit lines, the total financing under the green framework amounts to more than €200 million.
Madrid, 2nd June 2022. Opdenergy, an independent renewable energy producer, has closed two credit lines with CaixaBank for a combined amount of up to 50 million euros, both of which are qualified as “green” as they comply with the principles designated under the Green Loan Principles, which aim to promote sustainability and provide clear environmental benefits.
With these credit lines, which are part of the green financing framework that Opdenergy announced last year with a Second Party Opinion by Sustainalytics, the company will be able to finance the development of different PV solar energy projects located in Spain and the United States, among others. Specifically, the lines are expected to be used to issue guarantees for interconnection and PPAs for projects in the United States and for documentary credits for assets in Spain among others.
By closing these agreements with CaixaBank, Opdenergy demonstrates its capacity to continue to grow alongside leading financial institutions and its ability to negotiate alternative financing sources to develop the different projects it has in its portfolio at national and international level, while continuing to consolidate its position as a major player in the renewable energy industry.
These green credit lines are additional to the green commercial paper notes program registered in the MARF for a maximum amount of EUR 100 million and the EUR 62 million green financing associated with 3 solar PV assets, totalling more than EUR 200 million under the green financing framework registered by the company.
Luis Cid, CEO of Opdenergy, stated: “This new financing agreement we have reached with CaixaBank will help us to continue to highlight our role in the clean energy industry and the importance of making investments and developing projects that have a positive impact on the environment, both nationally and internationally. We are proud to have the backing and trust of a leading institution such as CaixaBank in achieving our goals.”
CaixaBank is one of the most committed financial institutions in terms of sustainability. This transaction is another demonstration of the diversification and innovation plan that the bank is carrying out to adapt sustainable financing solutions to the Transaction Banking products most used by companies. In 2021 CaixaBank carried out sustainable Transactional Banking operations that mobilized €4,188 million, with companies from different sectors, with pioneering operations in factoring, confirming or lines of guarantees, among others.
About Opdenergy
Opdenergy is an independent renewable energy producer, or IPP, in Europe and the Americas with more than 15 years of experience. The company develops, builds, finances, manages and operates high quality renewable energy projects in several countries. Opdenergy has a platform of secured assets with a total capacity of 2.4 GW in the operation, construction and pre-construction phases. In addition, Opdenergy has a portfolio of projects at different stages of development of around 11GW that support its growth strategy.
Opdenergy plays an important role in the decarbonization of energy in the different countries in which it operates; in Europe it has projects and developments in Spain, Italy, United Kingdom, France and Poland and in America it is in the United States, Chile, Mexico and Colombia.
Opdenergy has secured more than 2.6GW of PPA contracts in different countries with investment grade off-takers and in hard currency.
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