Enertis advises Banco Sabadell, Bankia, Abanca and Banco Pichincha Spain on the €92 million financing for five Elawan Energy PV plants with a total capacity of 250 MWp
- Enertis acted as Lender’s Technical Advisor, completing the Technical Due Diligence for the financing process and reviewing the projects in accordance with the Equator Principles and the loan in accordance with the Green Loan Principles (GLP).
- Enertis will continue to assist during the construction, commissioning and operation phases of the five projects.
- The total amount of the structured loan for the five solar PV plants is approximately 92 million euros.
Enertis, a leading global consulting and engineering firm in the renewable energy sector, has acted as Lender’s Technical Advisor to Banco Sabadell, Bankia, Abanca and Banco Pichincha Spain in the financing of five Elawan Energy solar PV plants located in Spain, in Castilla-La Mancha region. The total amount of the structured loan for the five projects is approximately 92 million euros.
Enertis has carried out the technical Due Diligence for the five plants, reviewing the projects in accordance with the Equator Principles and the loan in accordance with the Green Loan Principles (GLP). Enertis will continue to advise the financial institutions in the construction, commissioning – expected to take place next summer – and operation phases.
Each solar PV plant has an installed capacity of 50 MWp and they are all located in the municipalities of Bonete and Higueruela, in Castilla-La Mancha region. The total estimated annual energy production of the five projects reaches 500 gigawatt hours (GWh), that will avoid the emission of 144,000 tons of CO2 equivalents per year and supply electricity to more than 152,000 homes annually.
As Jorge Álvarez, Director of Consulting at Enertis highlighted, “We are proud to advise leading financial entities, such as Sabadell, Bankia, Abanca and Banco Pichincha Spain, in the financing of renewable energy projects, and to work together with reference Sponsors such as Elawan Energy. This is part of our commitment to support the current deployment of the PV sector in Spain, thereby contributing to decarbonize our energy system, create local and qualified employment and supply consumers with cheaper electricity. “