100 MWp solar plants in Spain to sell electricity under PPA signed with Centrica
Updated: Feb 22, 2019
Marguerite, a leading European infrastructure fund, has acquired an 80% stake from OPDEnergy in two ready-to-build solar PV assets with a total capacity of 100 MWp located in Merida (Extremadura region) and Cadiz (Andalucia region), Spain.
The 100MWp portfolio is part of the capacity awarded to OPDEnergy during the last regulatory auctions conducted in Spain. The plants, however, will sell electricity under a long-term PPA signed with UK energy company Centrica, an investment-grade counterparty.
OPDEnergy was advised by Our New Energy on the structuring of the PPA and is responsible for the construction of the plants under an EPC contract. After commissioning, OPDEnergy will carry out the assets’ operation and maintenance as well as the management of their technical and commercial activities.
Once both projects are in operation and connected to the grid by the end of 2019, they will produce enough renewable energy to supply the equivalent of 52.000 households with clean electricity. In addition, the construction of the plants will result in the creation of 400 new jobs at their peak; the projects will subcontract supporting services from local companies and communities. Read more