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Elawan Energy has secured a EUR92 million (US$108.9 million) loan for the project financing of its 250 MW Campanarios photovoltaic portfolio in Spain.
Watson Farley & Williams (WFW) has advised Elawan Energy. The potfolio is comprised of five Spanish plants currently under construction with a 50 MW nominal capacity, located in Spain’s Albacete region. The transaction closed on 3 November 2020, with the plants to be operational by Q4 2021.
Banco Sabadell, S.A., Bankia, S.A., Abanca Corporación Bancaria, S.A. y Banco Pichincha España, S.A. (advised by Cuatrecasas) acted as financing entities for the structured loans granted to the special purpose vehicles (SPVs) that own each plant, themselves all owned by Elawan Energy.
