Opdenergy, an independent renewable energy producer focused on solar photovoltaic and onshore wind technologies, has closed with BBVA the underwriting mandate for the financing of the development, construction, and commissioning of its backlog project portfolio in Spain, with a total expected installed capacity of approximately 725 MWp and for an amount of close to €500 million (~$601 million) (of which up to €76 million (~$91 million) would be for guarantees linked to the PPAs, and up to €20 million (~$24 million) would be for guarantees related to the reserve accounts. The financing will be structured as long-term project financing.