Watson Farley & Williams (WFW) has advised Elawan Energy on a €250m debt financing for a 440 MW portfolio of nine photovoltaic plants currently under development in the Castilla La Mancha, Spain.
The Escuderos, Belinchón and Torrijos projects, which comprise the nine plants, are currently under construction in Cuenca and Toledo and expected to be operational, by end 2022 or early 2023.
This nine plants will have a total installed capacity of 440 MW, with an estimated annual production of 887 GWh of clean energy. They will also have 800,000 modules with state-of-the-art technology for maximum energy efficiency. The projects will generate value at a local level, creating around 1,150 jobs in rural areas with high unemployment rates.
The Madrid-based firm, Elawan, offers integrated solutions across the entire life cycle of clean energy projects, from the promotion, development and construction of wind farms, photovoltaic plants and hydroelectric power plants to their operation, maintenance and sale of the clean energy generated. The company is present in 14 countries worldwide.
Santander, BBVA, MUFG, Sabadell and Intesa San Paolo acted as lenders and were advised by Clifford Chance’s team, formed by the partner, José Guardo (pictured right) and the lawyers, Eduardo Sánchez, Gabriel Miranda, María González, Angel Muñoz, Begoña Martinez and Itziar Kraus.
The finance team from WFW advising Elawan was led by the partner, Rodrigo Berasategui (pictured left), together with the senior associate, Juan Vicente Barquilla and the associates, Julia Belmonte and Álvaro del Real.