Renewable energy multinational corporation OPDEnergy, headquartered in Spain, announced on November 15 that it will build various photovoltaic solar projects located in Spain, Chile and Mexico next year totalling 500 MW. The investment required for these projects will be of approximately 500 million Euros, financed through the Project Finance Scheme with various financial institutions.
OPDEnergy will build seven photovoltaic solar plants totalling 300 MW of power in Spain, which are scheduled to start operating by the end of 2019. These projects are located in: Extremadura, with 50 MW in the La Fernandina solar plant; Andalucia, with 100 MW distributed in two 50 MW plants located in Puerto Real (Cadiz) and Alcala de Guadaira (Seville); and Aragon, with a further 148 MW distributed among the new photovoltaic solar plants in Los Belos (Zaragoza) and Montesol (Teruel) and their respective extensions, which will add a total power of 61 MW in Zaragoza and 87 MW in Teruel.
OPDEnergy was awarded a 176 GWh / year block of energy in the energy auction held in 2016 by the Chilean Government to provide the national electric grid with renewable energy generation for 20 years (2021-2040). In order to fulfill the agreement, OPDEnergy is to invest $120 million in the country, aiming to develop several renewable energy assets. As part of its development plan, OPDEnergy is to start the construction of 50 MW in 2019.
Aditionally, OPDEnergy will start the construction of two photovoltaic plants in Mexico with a total capacity of 144 MW in 2019. It is the “Andalucía” solar plant with 107 MW of power and located in the State of Coahuila de Zaragoza and a 37 MW solar plant in the State of Aguascalientes, both projects to be included within the power allocation made by the Mexican government in 2016.
OPDEnergy CEO, Luis Cid, explains that the success of closing the contracting of energy for more than 500 MW globally in the last two years is the result of a successful strategy that comes down to two levers:
“The lever of diversification in the energy mix, opting not only for photovoltaic solar energy, but also for wind and hydro. And the lever of globalization, which we started off in Italy where we built 49 MW, England with 74 MW completed and now with Mexico and Chile in 2019 that will allow us to grow organically and sustainably in order to carry on expanding our current portfolio in development of more than 5,000 MW (5 GW). “
Source: Press Release by OPDEnergy.