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DGAP-Adhoc: OPDEnergy, S.A.: INTENTION TO FLOAT ON THE SPANISH STOCK EXCHANGES

| Quelle: Dow Jones Newsw... | Lesedauer etwa 8 min. | Text vorlesen Stop Pause Fortsetzen

DGAP-Ad-hoc: OPDEnergy, S.A. / Key word(s): Miscellaneous
OPDEnergy, S.A.: INTENTION TO FLOAT ON THE SPANISH STOCK EXCHANGES
08-Apr-2021 / 08:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
FOR IMMEDIATE RELEASE
April 8, 2021
OPDENERGY HOLDING, S.A.
INTENTION TO FLOAT ON THE SPANISH STOCK EXCHANGES
OPDENERGY HOLDING, S.A. ("Opdenergy" or the "Company") announces today its intention to proceed with the initial
offering (the "Offering") of its ordinary shares (the "Shares") to qualified investors. The Offering will consist of a
primary offering of new Shares (the "New Shares") by the Company expected to raise gross proceeds of approximately EUR400
million to fund its business plan and a secondary offering by one of the existing shareholders of the Company, which
approximately 15.64% of the current share capital, to raise gross proceeds of approximately EUR17 million.
The Company expects to offer a portion of the New Shares in the Offering, not to exceed EUR11.5 million in gross
proceeds, to certain employees of the Company and its subsidiaries in Spain, as well as to selected related
non-qualified investors in the European Union.
The Company intends to apply for admission of its Shares to be listed on the Madrid, Barcelona, Bilbao and Valencia
Stock Exchanges (respectively, the "Admission" and the "Spanish Stock Exchanges") for trading through the Automated
Quotation System (Mercado Continuo) of the Spanish Stock Exchanges.
INFORMATION ON THE COMPANY
Opdenergy is a well-established and fully integrated independent producer of sustainable energy, focused on the
production of solar photovoltaic ("PV") and onshore wind power, present in selected, stable and mainly fast-growing
OECD renewable energy markets. In particular, Opdenergy is present and has pipeline projects in five markets in Europe
(Spain, Italy, United Kingdom, France and Poland) and three markets in the Americas (United States, Chile and Mexico).
Opdenergy's vertically integrated approach, with in-house expertise and integrated capabilities along the entire value
chain, ensures invaluable understanding and control over the projects' development, structuring, financing,
construction and operation and maintenance.
As of the date of this announcement, the Company's operating, ready for operation and under construction portfolio
includes 13^[1] solar PV plants and one onshore wind plant, with an aggregate gross installed capacity of c.583.7 MW
(including two plants in respect of which the Company owns a non-controlling interest) and an attributable installed
capacity of c.468.3 MW. Approximately 104.3 MW of gross installed capacity correspond to Sol de los Andes, a
wholly-owned solar PV plant located in Chile that is under construction, and the remaining gross installed capacity of
c.479.4 MW (c.364 MW on an attributable basis) correspond to operating plants and plants which are ready for operation^
[2]. In addition to this, the Company has an attractive growth profile with a pipeline with an aggregate gross capacity
of c.9.4 GW, of which c.3.7 GW relates to projects in the most advanced stages (backlog and advanced stage projects)
which the Company expects to undertake in the short to medium term.
The Offering represents the next step in Opdenergy's long-term development and ongoing transformation to become a
large-scale geographically diversified independent power producer ("IPP"). Net proceeds from the primary component of
the Offering will be fully dedicated to partially fund the equity portion of the capital expenditures associated with
the development and construction of the c.3.7 GW related to pipeline projects in the most advanced stages, which
includes c.907 MW of backlog projects, located in Spain and the United States, and c.2,781 MW of advanced stage
projects. More than 93% of the backlog and advanced pipeline capacity is expected to reach a Ready to Build ("RTB")
stage before the end of 2022, providing high visibility regarding the deployment in the short term of funds raised in
the Offering.
Opdenergy has a clear vision and a well-defined strategy oriented towards the achievement of its medium-term targets
while promoting a sustainable development. The Company is focused on OECD countries, creditworthy investment-grade
off-takers and hard currency-denominated (or hard currency-linked) energy sales, which are supported mainly by
long-term power purchase agreements ("PPAs") or other types of remuneration arrangements such as public remuneration
plans with fixed or stabilized remuneration prices (or a combination thereof), for most of its power production,
providing the Company with significant visibility and stability with respect to its future revenues.
Opdenergy has a proven track-record in executing renewable energy projects and delivering targets, having developed and
overseen the commissioning of more than 800 MW in more than 70 different projects over the past 15 years, and having
financed or transacted more than EUR2.0bn across different geographies.
The Company is led by a dynamic, highly qualified and experienced management team with over 100 years of combined
experience in the sector, with a proven track-record identifying and executing new market and development opportunities
and that has been directly responsible for the growth experienced by Opdenergy over the past few years.
Environmental, social and governance ("ESG") is at the core of Opdenergy's strategy and its key initiatives are
oriented for the Company to play a very active role in the ESG transition, providing an opportunity to invest in an
asset that will contribute positively and in an active manner to the transition towards a decarbonized world while
targeting sustainable long-term returns. Opdenergy is also committed to maintaining best-in-class corporate governance
practices to ensure a sound, long-term oriented governance.
Luis Cid, CEO of Opdenergy, stated:
"The Offering is a key milestone for Opdenergy in its path to become a large-scale IPP in Europe and the Americas. The
company is currently at an ideal position benefiting from a robust balance sheet, a high quality and well-diversified
operating portfolio and a tangible and attractive pipeline located in selected markets. The Offering proceeds will
allow us to accelerate and fuel our ambitious business plan.
At Opdenergy we are fully committed to continue developing renewable energy projects in our markets, with a profitable
and business-oriented strategy focusing on sustainability, and to continue delivering clean energy to our clients."
DETAILS OF THE OFFERING
The Offering will consist of a primary offering, expected to raise gross proceeds of approximately EUR400 million, and a
secondary offering by one of the existing shareholders of the Company, which owns approximately 15.64% of the current
share capital, to raise gross proceeds of approximately EUR17 million. An over-allotment option of secondary Shares by
existing shareholders will also be granted. The Offering will be made mainly to international qualified institutional
investors. In addition, the Company is offering part of the New Shares to employees of the Company and its subsidiaries
in Spain, as well as to selected related non-qualified related investors in the European Union (the "Non-Qualified
Investors Tranche"). The Non-Qualified Investors Tranche will not exceed EUR11.5 million.
Following admission to listing of the Company's Shares on the Spanish Stock Exchanges, the Company, the current
shareholders and the Company's senior management team will be subject to a 180-day, 180-day and 365-day lock-up
restriction, respectively, during which time they may not dispose of any interest in their Shares without the consent
of the Joint Global Coordinators (as defined below), subject to certain exceptions. In addition, the employees
subscribing for New Shares in the Non-Qualified Investors Tranche will also be subject to a 365-day lock-up
restriction.
Banco Santander, S.A. and Citigroup Global Markets Europe AG will be acting as joint global coordinators and joint
bookrunners (the "Joint Global Coordinators") for the Offering. Alantra Capital Markets, S.V., S.A., BofA Securities
Europe S.A, Joh. Berenberg, Gossler & Co. KG and RBC Capital Markets (Europe) GmbH will be acting as joint bookrunners
(and together with the Joint Global Coordinators, the "Managers"). Evercore and Rothschild & Co. will be acting as
financial advisers to the Company.
Further details of the Offering will be included in the prospectus to be filed by the Company with the Spanish
Securities Market Commission (Comisión Nacional del Mercado de Valores or "CNMV") in connection with the Offering and
the Admission, and to be published in due course and which will supersede this Announcement in its entirety (the "
Prospectus"). The Prospectus will include full details on the Offering and the specific timetable. Upon approval, it
will be available in the respective websites of Opdenergy (https://www.opdenergy.com/en/) and the CNMV (www.cnmv.es).
FOR INVESTOR ENQUIRIES
Isabel Troya Smith +34 914 559 996
Investor Relations & Communications Director
itroya@opdenergy.com

FOR MEDIA ENQUIRIES


Óscar Torres +34 685 929 026
KREAB otorres@kreab.com
Eva Tuñas +34 635 186 419
KREAB etunas@kreab.com
Mónica Pastor +34 691 435 500
KREAB mpastor@kreab.com

IMPORTANT NOTICE

MORE TO FOLLOW) Dow Jones Newswires

April 08, 2021 02:01 ET ( 06:01 GMT)
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