Spain's Elawan safeguards financing for 250-MW solar portfolio

• Spanish programmer Elawan Energy on Thursday claimed it has actually closed on EUR 92 million (USD 108.7 m) of project financing for a portfolio of solar projects with an integrated ability of 250 MW in Spain.

Banco Sabadell SA, Bankia SA, Abanca Corporación Bancaria SA and Banco Pichincha Espana SA supplied the loan funding to the unique purpose automobiles for the projects, every one of them possessed by Elawan Energy. The purchase was closed on November 3.

The portfolio consists of five 50-MW photovoltaic or pv (PV) plants which are currently being constructed and are anticipated to be appointed by the final quarter of 2021. The projects are located in the district of Albacete, central Spain.

In October, French builder Eiffage SA (EPA: FGR) said it will work as the design, purchase and construction (EPC) contractor for the 250-MWp Campanario solar project, uniting the 5 systems.