Opdenergy to sell Spanish solar portfolio to Bruc Energy
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Opdenergy to sell Spanish solar portfolio to Bruc Energy

09 Aug 2021 (Last Updated August 9th, 2021 15:48)

Opdenergy will use the proceeds from the sale to develop its 942MW backlog pipeline in Spain and the US.

Spain-based sustainable energy producer Opdenergy has reached an agreement to divest its solar project portfolio in Spain, with 1,044MW of total capacity, to Bruc Energy.

The 20 solar facilities included in the deal are located in the Cádiz, Zaragoza, Valladolid, Burgos, Teruel, Seville and Soria provinces.

Opdenergy will use the proceeds from the sale to develop its backlog pipeline in Spain and the US, which comprises 942MW of combined capacity.

By the first half of next year, the company will have a total capacity of more than 1,500MW in operation and construction.

The financial details of the deal have not been disclosed.

Opdenergy CEO Luis Cid said: “We thank Bruc Energy for the trust placed in Opdenergy. We have once again demonstrated our ability to negotiate financing alternatives for our business model and the quality of our project portfolio.

“This agreement is a very important milestone for us and our company, as it will allow us to continue developing new clean energy projects and to continue executing our business plan.”

Opdenergy will continue to develop the projects included in the deal until they reach the ready-to-build phase, which is expected to happen in the second half of next year.

By acquiring these solar projects from Opdenergy, Bruc Energy’s total capacity in operation, construction and development phases is set to increase to more than 5,000MW.

Bruc Energy president Juan Béjar said: “With a portfolio of assets totalling more than 5,000MW, Bruc Energy has positioned itself as one of the most relevant and dynamic players in the green energy sector in the Iberian Peninsula.

“The agreement with Opdenergy demonstrates our capacity to generate value in the process of decarbonisation of the economy and to take advantage of the acceleration in the substitution of fossil energies that the fight against climate change requires.”