Elawan closes financing for three wind farms for 94 million euros

Elawan closes financing for 3 wind farms in the province of Albacete, with a total capacity of 150 Megawatts (MW).

The three wind farms have an installed capacity of 50 MW each, and are located in one of the municipalities of Bonete, Chinchilla de Montearagón, Corral-Rubio and Montealegre del Castillo, in the province of Albacete. These plants are currently in the construction phase, with commissioning scheduled for the summer of 2022.

Elawan Energy, through these three plants, will supply energy to around 115,000 homes, with an estimated annual production of 400 Gigawatt-hours (GWh) of clean energy.

The financing has been granted through independent structured financings for an aggregate amount of approximately 94 million euros granted by Banco Sabadell, S.A., Banco Santander, S.A. and SMBC Bank EU AG (advised by Clifford Chance) to the holding companies of each plant: Frontones, Derramador and Fuente Álamo, wholly owned by Elawan Energy.

Pedro García Crespo, Financing Director of Elawan Energy, stated that: “This transaction has been a great success, having financed projects awarded in the renewable energy auction held in January of this year, in a commitment of financial institutions for an amount of 94 million euros”.