Elawan Energy has closed €76 million financing for 23 small hydropower plants in Spain with a combined installed capacity of 175 MW. The €76 million transaction has been structured as a non-recourse project finance deal. Natixis provided the financing and acted as the lead arranger and structuring agent.
Furthermore, out of the total installed capacity of 175 MW, 134 MW comes from eight storage-based facilities that use dams or balancing reservoirs. The remaining 41 MW is distributed across 15 run-of-river plants.
Elawan Energy, a subsidiary of ORIX Corporation, is a global operator in the renewable energy industry. The company has approximately 1.9 GW of plants currently in operation and about 8 GW of projects under development. It operates in 15 countries across Europe as well as in North and South America.
