Opdenergy announced the closing of the refinancing of three solar plants with Banco Sabadell for an amount of close to 62 million euros. Specifically, this refinancing covers the following solar plants: Los Belos, with 50 MWp, located in La Muela (Zaragoza); El Muelle, with a capacity of 11 MWp located in Muel (Zaragoza) and Montesol, with 50 MWp, located in Cañada Vellida (Teruel), all of them are operating assets since the third quarter of 2020.
With this new transaction, Opdenergy demonstrates its capacity to continue growing in cooperation with leading financial institutions such as Banco Sabadell. In this sense, the company and the bank have agreed this refinancing with a tenor of 18 years. These loans are classified as "green" and comply with the principles designated within the "Green Loan Principles", which aim to promote sustainability and offer clear environmental benefits.
These three projects generate more than 205 GWh of green energy every year, which is approximately equivalent to the annual consumption of 62,000 homes in Spain and a saving in CO2 emissions of 31,000 tonnes per year, according to the emission factors published by the National Commission for Markets and Competition (2020 CNMC).
In this transaction Opdenergy has been advised by Evergreen Legal while Banco Sabadell has been advised by Watson Farley & Williams Spain.
Luis Cid, CEO of Opdenergy, said: "Through this financing we strengthen our collaboration with Banco Sabadell, one of our allies for the execution of our growth plan in the coming years. The closing of this milestone allows us for a more efficient financial structure adapted to our needs and aligned with our growth strategy ".
Roger Font, Director of Project Finance at Banco Sabadell, stated: "It is a great opportunity to work with Opdenergy, one of Spain's leading renewable energy companies. By financing these projects, we reinforce the bank's position as a benchmark in financing green energy projects and make progress on the objectives of Banco Sabadell's Sustainable Finance Plan. Since 2018, we have financed 113 projects worth more than €2.7 billion in the Iberian Peninsula, structuring a capacity of more than 5 GW ".