Opdenergy 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."
