Elawan Energy closes the financing of a portfolio of renewable projects in Spain with a total of 171 MW and for an amount of 150 million euros

Elawan Energy, a global player in the renewable energy sector, has announced the closing of a €150 million debt financing for the construction of 4 wind farms and 1 photovoltaic plant between the Autonomous Communities of Castilla La Mancha and Castilla y León (Spain). The financing has been provided by ING, Banco Sabadell, Banco Santander and Unicaja, advised by the law firm Clifford Chance. The law firm assisting Elawan Energy in the closing of the transaction was Watson Farley & Williams.

The projects will be located in the provinces of Cuenca, Ciudad Real, Palencia and Burgos, and will have more than 99,200 modules (solar panels) and 21 wind turbines with cutting-edge technology from the point of view of energy efficiency. The projects are at an advanced stage of construction.

The projects will have a total installed capacity of 171 MW, with an estimated annual production of 280 GWh of clean energy, equivalent to the annual consumption of approximately 28,200 families per year. Among the different impacts of value generation at the local level is the creation of more than 475 jobs in rural areas with high unemployment rates.

Pedro García Crespo, Chief Investment Officer of Elawan Energy, highlighted “the sharp increase in the investment plans we are undertaking to accelerate compliance with the objectives of energy transition and decarbonization of the economy through clean energy”.

In total, the company currently has 54 plants in production in 9 countries, more than 1.70 GW in operation, 253 MW under construction and more than 8.5 GW in various stages of development. During 2023, the operating plants will generate around 3.6 million MWh.