Spain-headquartered renewables developer Elawan Energy has closing $160m in debt financing for two solar farms, totalling 147MW in the US state of Texas.
The two projects financed are in the construction phase and are expected to come into operation in 2023.
Pitts Dudik Solar is located in Hill County with an installed capacity of 60MW and Dileo, in Bosque County, will have a capacity of 87MW.
Pedro García Crespo, Elawan Energy’s chief financial officer, said: “It is great news for the company to complete this relevant milestone, connected to our ambitious expansion plan in the United States”.
Elawan Energy has more than 36 plants in production in 14 countries, with more than 1.1GW in operation.
BBVA and MUFG, advised by Allen & Overy, provided the financing, while law firm Orrick supported Elawan Energy on the closing of the transaction.