Spanish independent power producer (IPP) Opdenergy Holding SA (BME:OPDE) said on Friday that it has finalised the phased hand-over of roughly 1,101 MW of solar projects in Spain to Madrid-based renewables investor Bruc Energy as part of their August 2021 agreement.
The final group of projects, eight totalling 444 MW, was transferred on Thursday, after Opdenergy brought them to ready-to-build (RTB) stage. With those, Bruc Energy closed the acquisition of a total of 20 shovel-ready solar projects located all over Spain, as agreed.
The value of the transaction was never disclosed.
With the deal now closed, Opdenergy has sold nearly 2,000 MW worth of projects between RTB and commercial operation date to third parties in Spain, Italy, Mexico, the UK and the US. Proceeds from such asset rotation enables Opdenergy to partially finance its future growth, add more resources to the recurring cash flows from operating power plants and optimise its generation mix, the company said.
At present, the IPP has 680 MW of operational capacity, 1,090 MW under construction and slated to go online in the coming months and 352 MW that will be under construction shortly, it added.