Opdenergy’s project Elizabeth gets the approval from the Louisiana Public Service Commission

22/09/2022

  • This 160MWdc solar PV plant will sell its energy through the power purchase agreement signed in 2021 with Entergy Louisiana for a period of 20 years.
  • Construction work is scheduled to begin in early 2023, while the connection to the grid is expected to take place during the first half of 2024. Once operational, it is expected to generate close to 302,000MWh of clean energy per year.

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Opdenergy’s project Elizabeth gets the approval from the Louisiana Public Service Commission

Madrid, 22 September 2022. Opdenergy’s project Elizabeth has received the approval from the Louisiana Public Service Commission to sell its energy to Entergy Lousiana, a subsidiary of Entergy Corporation. This approval represents a new milestone within the power purchase agreement (PPA) associated with this project which was signed at the end of 2021. As part of the agreement, Entergy Louisiana will acquire 100% of the energy generated by this project, with an installed capacity of 160 MWdc, over a period of 20 years.

Opdenergy continues to work to ensure the successful development of this new solar PV plant located in Allen Parish, Louisiana and expects to begin construction in early 2023, while the grid connection is expected during the first half of 2024. Once operational, it is expected to generate about 302,000MWh of clean energy per year.

This new agreement endorses the company’s commitment to consolidate its presence in the renewable energy sector in this country. Opdenergy continues to actively develop renewable assets in the United States, through its total pipeline of about 3GW in different stages of advancement throughout the country.

Opdenergy has demonstrated its strong ability to secure power purchase agreements before assets are operational and has currently secured PPAs for more than 2.6GW worldwide, of which more than 300MW are in the USA. These PPAs cover the company’s operating portfolio of 584MW and more than 2GW of future projects, throughout the different countries in which it operates.

Luis Cid, CEO of Opdenergy, stated: “We are delighted to receive this approval which will enable us to execute the project and provide significant benefits for Allen Parish, while contributing toward a more sustainable future in Louisiana.”

 

About Opdenergy

Opdenergy is an independent renewable energy producer, or IPP, in Europe, the United States and Latin America 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 gross installed capacity of 2.4GW in operation, under construction and pre-construction phases. In addition, Opdenergy has a portfolio of pipeline 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. It is present and has pipeline projects in five markets in Europe (Spain, Italy, United Kingdom, France and Poland), in the United States and in three markets in Latin America (Chile, Mexico and Colombia).

Opdenergy, which is listed in the Spanish stock exchange since July 2022, has secured more than 2.6GW of PPA contracts in different countries with investment grade off-takers and in hard currency.

About Entergy Louisiana and Entergy Corporation

Entergy Louisiana currently has approximately 280 megawatts of renewable resources, including the Capital Region Solar facility, which began delivering power to the grid in October 2020. Entergy Louisiana, LLC provides electric service to approximately 1.1 million customers and natural gas service to more than 93,000 customers in the greater Baton Rouge area. It has operations in southern, central and northern Louisiana.

Entergy Corporation (NYSE: ETR) is an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and approximately 12,500 employees. Learn more at www.entergy.com

 

For further information: KREAB

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