Independent renewable energy producer Opdenergy has signed the financing of its 24MW La Francesca solar project in Italy for a total of €16.5m.
The photovoltaic project, which is under construction, will sell 100% of its energy on a merchant basis once it completes its construction and begins its operation.
With this new transaction, Opdenergy continues to strengthen its presence in the Italian market, where it has been operating generation plants since 2010 and where it has more than 1GW of additional projects under development.
The La Francesca project will generate more than 38GWh of green energy each year, which is approximately equivalent to the annual consumption of 11,000 households and CO2e emissions savings of 11,000 tonnes per year, according to the latest emission factors published by AIB for the electricity production mix in Italy.
Luis Cid, CEO of Opdenergy, said: “With the financing of this project, we continue to consolidate our presence in the strategic Italian market where we will grow significantly in the coming years thanks to the many projects that we have in advanced stage of development.”