Elawan Energy has secured €25 million in green financing from BBVA for its 30MW San Pedro wind farm in Querétaro, Mexico.
The financing is backed by a Cesce Green Investment Policy on behalf of the Spanish State.
The long-term facility supports Elawan’s sustainability goals and its continued international growth in renewable energy.
Operational since September 2023, San Pedro is the only wind farm in Querétaro and generated 105GWh in 2024.
Clifford Chance advised BBVA on the transaction, while Linklaters represented Elawan Energy.
Carlota Reina, Elawan’s M&A and structured finance Americas director, said the deal reinforces the company’s ability to grow through “innovative, market-tailored financing solutions”.
Elawan now operates 2.1GW of capacity across nine countries and has 830MW under construction.
Its global pipeline exceeds 11GW, with a generation mix of 49% solar, 42% wind and 9% hydro.
Spain represents 56% of its operating capacity, followed by the US with 14%, Turkey with 10% and Brazil with 7%.
Elawan is ranked among the top independent renewable power producers in Spain.