November 2023
Deutsche Bank Trust and Agency Services (TAS) supports Opdenergy on US$252m project financing for two solar projects
Deutsche Bank Trust and Agency Services (TAS) has been selected as collateral agent and account bank on US$252m project financing for Opdenergy
The independent renewable energy producer has closed a US$252m project financing package for two solar projects in the United States. The first solar project “Blake", located in Jefferson County, West Virginia, has an installed capacity of 100 megawatts defined conditions (MWDC). The second solar project “Elizabeth", located in Allen Parish, Louisiana, has an installed capacity of 160 MWDC.1
Both projects, which are under construction and expected to be operational within the next few months, are under long-term power purchase agreements (PPAs) with two of the largest North American utilities, AEP Energy Partners, Inc. and Entergy Louisiana, LLC.
"These projects will bring a number of environmental and economic benefits”
Driving economic and environmental benefits
The construction and operation of the projects will result in the creation of more than 600 direct and indirect jobs, as well as contribute to solving one of the most urgent problems currently facing our planet: climate change.
Together, the projects are estimated to prevent the release of 260,000 tons of CO2 into the atmosphere per year (according to the EPA’s latest emission factors), which is the equivalent of the annual circulation of 57,000 combustion cars or the consumption of more than 43,000 homes (according to equivalent consumption published by the US EIA).
Brian Studdert, Head of Trust & Agency Services, Americas, Deutsche Bank noted, “We are delighted that Opdenergy has selected TAS to provide agency services for these important solar projects, which will provide tangible economic and environmental benefits in West Virginia and Louisiana.”
About Opdenergy
Opdenergy is an independent renewable energy producer, or IPP, operating in Europe, the United States and Latin America with more than 17 years of experience. The company develops, builds, finances, manages and operates renewable energy projects in various countries. Opdenergy holds a portfolio of 1.9 GW of assets under operation and construction in which approximately 70% of the energy is contracted under long-term PPAs. In addition, Opdenergy has a further 13 GW pipeline of projects at different stages of development to support its growth strategy.
Opdenergy plays an important role in the decarbonisation of energy in the different countries in which it operates. It is already present and has projects in the pipeline in five European markets (Spain, Italy, United Kingdom, France and Poland), in the United States and in three Latin American markets (Chile, Mexico and Colombia).
Opdenergy is listed on the Spanish continuous market (BME:OPDE)