Opdenergy, a prominent Spanish independent power producer, has successfully secured $252 million (€236 million) in funding for two substantial solar projects boasting a combined capacity of 260MWdc. The projects, namely the 100MWdc Blake project in Jefferson County, West Virginia, and the 160MWdc Elizabeth project in Allen Parish, Louisiana, are presently under construction and expected to commence operations in the coming months.
Notably, both these ventures are backed by long-term power purchase agreements (PPAs) with prominent US utilities. The Blake project is set to be covered by a 15-year PPA with AEP Partners, while the Elizabeth project has a 20-year PPA in place with Entergy Louisiana.
Opdenergy's CEO, Luis Cid, emphasized the significance of these projects, stating, “These projects will generate clean and competitive energy, which is what America demands. In addition, they will bring a number of environmental and economic benefits to the West Virginia and Louisiana communities in which they are located.”
This news follows Opdenergy's recent financial success in securing $143 million (€128 million) to bolster their solar endeavors in Spain. The financing arrangements were solidified with the esteemed Spanish bank, Banco Santander, for the development and commissioning of five solar plants. Three of these plants are strategically situated in Badajoz, Extremadura, renowned as Europe's current largest solar PV plant. With $76.9 million (€72.7 million) earmarked for these projects, Opdenergy is poised to expand their cumulative solar capacity to 131MW.
The two additional solar projects will be positioned in centre-west Zamora, Castilla and Leon, and will possess respective installed capacities of 56MW and 29MW. Financing for these ventures amounts to $58.5 million (€55.3 million), further demonstrating Opdenergy's commitment to advancing sustainable energy solutions.
