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Opdenergy and ING have agreed to green finance the construction and operation of a 167 MW solar photovoltaic (PV) portfolio in Spain with the deal's total value of EUR107 million (US$109 million).
The green financing, which has a Second Party Opinion from Mercados Aries, and the construction phase has a total period of 11 years. It combines long-term senior debt, a PPA guarantee facility, and a debt service reserve account credit facility to meet the debt service obligations.
As a result of this additional finance, Opdenergy moves closer to its goal of 3.3 GW of renewable energy projects in operation and under development by 2025.
