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Elawan secures €150m debt for 171MW in Spain

RICHARD HEAP

February 29, 2024

Spanish developer Elawan Energy has secured €150m debt funding to support construction of four wind farms and one solar farm totalling 171MW in Spain.

The projects are in an advanced state of construction, and in the provinces of Burgos, Cuenca, Ciudad Real and Palencia. Banco Sabadell, Banco Santander, ING and Unicaja provided the debt package.

Pedro García Crespo, chief investment officer at Elawan Energy, said the funds would support “the sharp increase in the investment plans we are undertaking to accelerate compliance with the objectives of energy transition and decarbonisation of the economy through clean energy”.

The company currently has 54 renewables plants totalling 1.7GW in operation in nine countries, with 253MW under construction and a further 8.5GW in development.

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