Opdenergy will hybridize the solar portfolio sold to Bruc with 500 MW of wind power.

Opdenergy expands its collaboration agreement with Bruc Energy. The company headed by Luis Cid will develop up to 500 additional megawatts of wind energy for the investment group, which will be located next to the photovoltaic plants that the company has already sold to Juan Béjar's investment vehicle.

In this way, Opdenergy will carry out one of the largest hybridization projects of photovoltaic parks in Spain.

The independent renewable energy producer has an exclusive agreement for the hybridization of the 20 photovoltaic projects, with a capacity of 1,044 MW, located in Spain and transferred to the management company, which will thus reach 1,544 MW of power.

Opdenergy's intention is to take advantage of the connection capacity already assigned to these projects to associate them with the new wind power capacity, so that they would obtain an additional income to that generated by the sale itself, according to the CEO, Luis Cid, as revealed to elEconomista.es.

Portfolio transfer

Opdenergy intends to complete the transfer of the portfolio it had agreed with Bruc during this year. Currently, only four projects with a total capacity of 400 MW remain to be transferred.

The solar plants included in the transaction are located in the provinces of Cadiz, Zaragoza, Valladolid, Burgos, Teruel, Seville and Soria and will represent revenues of 80 million euros for the group headed by Luis Cid.

Opdenergy currently has 584 MW in operation and, with the projects under construction, aims to reach a total of 1,800 MW distributed among the three major geographical areas covered by the company: Europe, the United States and Latin America. Specifically, it expects 510 MW to start operating during the second and third quarters of this year and thus reach 1,200 MW in operation. Specifically, these are the Belinchón 1, 2 and 3, La Estación, Ballovar, Plana de la Pena 1 and 2, Larral, Peñaza, Cartujos 1 and 2 and El Fede wind farms, all of them in Spain.

Another 580 MW will start up during the last three months of 2023. In the United States, Opdenergy has started construction work on its Elizabeth project in Louisiana and its High Horizons project in West Virginia, with 160 MW and 100 MW of capacity respectively.

In Italy, the company has started construction of the 24 MW La Francesca plant, which will be added to the 7 MWs already in operation in the country. In Spain, it has the Covatillas (165 MW) and Brovales (131 MW) projects.

Subsequently, the Valdenogal (49 MW), Valdelapiedra (56 MW), La Guardia (56 MW), Las Capillas (56 MW) and Las Mulas (29 MW) plants are expected to be added to this portfolio.

The company intends to continue advancing in the construction of renewable energy plants and has also decided to reduce the rotation of assets to manage them directly. To this end, the company is closing long-term power purchase agreements (PPAs) with various buyers and has already committed 3 GW.