2023-07-20 14:58:51
Banco Santander, chaired by Ana Botinhas granted financing for a total amount of 128 million euros to Opdenergy, for the commissioning of five photovoltaic plants in Spain, with a combined installed capacity of 216 megawatts (MW).
In detail, the operation between Santander Bank and Opdenergy refers to the financing of the ‘Brovales’ project, with three photovoltaic plants: ‘Brovales I’ (55 MW), ‘Brovales II’ (55 MW) and ‘Brovales III’ of 21 MW, all in the province of Badajoz, and whose financing will reach 72.7 million euros; and likewise, the photovoltaic plants of ‘Capillas’ (56 MW) and ‘Mulas’ (29 MW), both in Zamora, for which Opdenergy will use 55.3 million euros in their development.
All these projects are in the construction phase, and are backed by long-term power purchase agreements (‘PPAs’), signed with European ‘investment grade’ utilities.
Santander Bank has been the entity that has led the structuring of the operation, in its role as ‘mandated lead arranger’ (MLA), ‘hedge provider’, and financing agent.
After signing this agreement with Banco Santander, Opdenergy has stressed that it continues to strengthen its presence in the national market, and “values its ability to obtain financing under competitive conditions, backed by the support of important financial partners.”
Likewise, the CEO of Opdenergy, Luis Cid, has indicated that the financing signed with Banco Santander for these projects “supports the solidity of our business model and allows us to continue growing and developing our strategic plan according to the foreseen calendar”.
At the moment, Opdenergy It has a voluntary takeover bid (OPA) presented by the French fund Antin through GCE LuxCo, which intends to take over the entire company for almost 866 million euros.
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