Marguerite concludes 100 MWp Spanish solar PV acquisition with OPDEnergy

Marguerite, a 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 construction of the solar photovoltaic (PV) plants is planned to be completed by late 2019, with a total expected yearly production of 200 GWh once under operation. The 100 MWp 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 Centrica, an investment-grade counterparty.

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. According to parameters estimated and released by the Spanish Office for Climate Change (Oficina Española de Cambio Climático – OECC), such production will contribute to avoid the annual emission of 80,000 tons of CO2 in the atmosphere.

OPDEnergy has structured 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.

Marguerite was advised by Perez Llorca (legal), Altermia (technical) and KPMG (tax). OPDEnergy was advised by Evergreen and Watson Farley & Williams (legal) and Our New Energy (PPA).