Elawan Energy Closes €760 Million Financing on 1.3 GW Spanish Renewables Portfolio
- Capacity
- 989 MW
- Location
- Spain
- Developer
- Elawan Energy
- Source
- PV Tech →
Key Facts
Renewables developer Elawan Energy has closed €760 million (about $868 million) in financing for Project Himalaya, a 1.3 GW solar, wind, and battery storage portfolio in Spain. Solar PV makes up the majority of the portfolio at 989 MW, with battery storage accounting for 285 MW and wind for 74 MW.
Portfolio composition
The portfolio combines roughly 1 GW of already-operational assets with a new greenfield tranche of nearly 300 MW under construction and development.
Financing structure
The deal is structured as a single non-recourse project finance facility spanning all three technologies, with mechanisms built in to support future hybridization of assets through added battery storage, plus an incremental facility for future projects from Elawan's 2+ GW development pipeline. Law firm Watson Farley & Williams advised on the transaction.
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