Spanish renewables developer Opdenergy Holding SA has finalized a green financing agreement amounting to EUR 82.6 million (USD 90.0m) to support the ongoing development of two solar projects in the United States.
The funds will play a pivotal role in optimizing the capital structure of Opdenergy's 100-MW Blake solar farm in West Virginia and the 160-MW Elizabeth plant in Louisiana, both currently in the construction phase. The financing was facilitated through a collaboration between Spanish banks BBVA and ICO, with green investment policy coverage provided by Spanish export credit agency (ECA) Cesce.
Last month, Opdenergy successfully concluded a project financing package totaling USD 252 million for the Blake and Elizabeth projects. This additional green financing underscores the company's commitment to advancing its renewable energy initiatives in the US, contributing to the growth of sustainable energy infrastructure.
The involvement of reputable financial institutions and the support from Cesce further enhance the viability and momentum of Opdenergy's solar projects. The infusion of capital is expected to expedite the construction progress, bringing the Blake and Elizabeth facilities closer to operational readiness and bolstering Opdenergy's footprint in the dynamic US solar energy market.
