Elawan Energy acquires 440 MW portfolio in Spain

Spanish independent power producer Elawan Energy, majority-owned by Japanese investment firm Orix Corporation, has closed debt financing for a portfolio of nine solar power plants with 440 megawatts of total capacity in Spain. At €250 million ($254,7 million), the financing provided by Banco Santander, BBVA, MUFG Bank, Banco Sabadell and Intesa San Paolo Bank Luxembourg is the largest Elawan has received to date. The company was advised on the deal by UK-based Watson Farley & Williams (WFW).
The solar power plants, some of which are already under construction, are located in the Castilla La Mancha region. They are expected to be operational late this year or early 2023. Elawan currently operates 36 wind, solar and hydro power plants with a total capacity of eleven gigawatts in 14 countries. A total capacity of 840 megawatts is under construction and around nine gigawatts are under development.

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