Luxembourg / Madrid, 19/03/2019 – Marguerite, a leading European infrastructure fund, has acquired an 80% stake from Spanish developer OPDEnergy in a ready-to build solar PV plant with a total capacity of 50MWp located in Alcalá de Guadaíra (Andalusia region), Spain.
The construction of the solar photovoltaic (PV) plant is planned to be completed by the end of 2019, with a total expected yearly production of 100GWh once under operation. The 50MWp plant is part of the capacity awarded to OPDEnergy during the last regulatory auctions conducted in Spain. In combination with the two other similar projects located in Mérida and Cádiz in which Marguerite acquired 80% stakes earlier this year, the portfolio will have an expected yearly production of 300GWh and a total capacity of 150 MWp. The latest project will also sell electricity under a long- term PPA signed with Centrica, an investment-grade counterparty.
Once operational, the portfolio will produce enough renewable energy to supply the equivalent of 78,000 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 120,000 tons of CO2 in the atmosphere. OPDEnergy is responsible for the construction of the plant under an EPC contract. After commissioning, OPDEnergy will carry out the asset’s operation and maintenance as well as the management of its technical and commercial activities.
Marguerite was advised by Perez Llorca (legal), Altermia (technical) and KPMG (tax). OPDEnergy was advised by Evergreen, Watson Farley & Williams (legal) and Our New Energy (PPA).