Spanish IPP Opdenergy aims to raise €400m in initial public offering
Opdenergy’s 50MW La Fernandina PV project in western Spain. Image: Opdenergy.
Spanish independent power producer (IPP) Opdenergy is preparing to launch an initial public offering (IPO) to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
The company’s plan to float on the Spanish Stock Exchanges consists of a primary offering, expected to raise proceeds of €400 million (US$475 million), and a secondary offering by an existing shareholder that owns around 15.6% of the current share capital to raise proceeds of around €17 million (US$20 million).