- These eight projects are in addition 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 sold to third parties in Spain, Italy, Mexico, UK and the US.
Madrid, May 12th, 2023. Renewable energy company Bruc has completed the acquisition of eight new solar PV power generation plants from independent renewable energy producer Opdenergy totalling 444 MW. This transaction is part of the agreement reached between Bruc and Opdenergy in August 2021 for the sale and purchase of 20 solar PV power generation plants totalling 1,101 MW.
These photovoltaic plants transferred yesterday, in accordance with the agreed schedule, are located in the provinces of Valladolid and Zaragoza, in addition to the twelve previously transferred plants located in the provinces of Cádiz, Palencia, Seville, Soria, Teruel and Zaragoza.
With this operation, Opdenergy transfers to Bruc all the agreed plants and takes an important step in the execution of its business plan, as Luis Cid, CEO of Opdenergy, comments: “First of all, we would like to thank Bruc for the trust it placed in us to carry out this project, which began as an exciting project and has become a successful reality. The achievement of all the closings associated with the transaction with Bruc is a sign of our execution and commitment to our investors and partners. It also reflects the quality of our projects and highlights the value of the other clean energy projects under development and allows us to continue executing our business plan”.
Opdenergy currently has an operational generation capacity of 680MW, 1,090MW under construction that will be put into operation in the coming months and 352MW that will start construction shortly, making it a player of nearly 2GW between operation and construction, before the end of 2023.
With the transfer of these assets, Opdenergy is approaching 2GW sold to third parties between RTB and COD in Spain, Italy, Mexico, UK and US. This asset rotation strategy allows the company to partially finance its future growth, adding even more resources to the recurring cash flows obtained from operating assets, as well as optimizing its generation mix.
Opdenergy is an independent renewable energy producer, or IPP, in Europe, the United States and Latin America with more than 17 years of experience. The company develops, builds, finances, manages and operates high quality renewable energy projects in several countries. Opdenergy has a portfolio of 1.8GW of assets in operation and under construction. In addition, Opdenergy has an additional portfolio of projects in different stages of development of around 12GW 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 projects in the pipeline in five European markets (Spain, Italy, United Kingdom, France and Poland), in the United States and in three Latin American markets (Chile, Mexico and Colombia).
Opdenergy has been listed on the Spanish continuous market since July 2022 (BME:OPDE).
Bruc is one of the largest and most dynamic renewable energy groups in Spain. Its shareholders are the pension funds OPTrust and USS and the businessman Juan Béjar. It currently owns 8,500 MW with access rights to the transmission grid, of which 1,100 MW are already operational and at an advanced stage of construction. Of the remaining 7,400 MW, 5,000 MW already have an environmental impact statement.
Bruc believes that an energy transition towards a “decarbonized” economy is urgently required. Part of this transition relies on the development of clean energies, whose contribution to countries’ energy systems must be increasing. Bruc’s mission is to generate attractive investment opportunities in the field of renewable energies with the aim of contributing to the sustainability of energy supply systems and substantially reducing their environmental impact.
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