Elawan closes financing for 147 MW of solar projects in Texas

Elawan Energy, a Spanish producer of renewable energy sources, has secured financial close for the two solar photovoltaic projects it is currently constructing in Texas, with a combined capacity of 147 MW.

Debt finance totaling US$160 million was provided by lenders Mitsubishi UFJ Financial Group Inc (MUFG) and Banco Bilbao Vizcaya Argentaria SA. The fund will support two solar projects that are now under development, the 87 MW Dileo Solar project in Bosque County and the 60 MW Pitts Dudik Solar project in Hill County.

The two solar farms are expected to be operational by 2023 and are capable of producing about 283 GWh annually.