WFW has advised Elawan Energy on a €76m non-recourse financing granted by Natixis for the financing of a 175 MW portfolio in Spain. The portfolio comprises 23 operational mini hydro plants encompassing storage-based facilities that utilise dams or balancing reservoirs, as well as run-of-river plants.
Elawan acquired the hydropower portfolio from Acciona in 2024, marking one of the largest recent transactions in Spain involving hydropower generation.
Elawan, a global player in the renewable energy sector, operates a 2.1 GW portfolio across nine countries, with 830 MW under construction and a pipeline in development exceeding 11 GW, maintaining a diversified portfolio with solar, wind and hydropower assets. As part of the ORIX group, Elawan adheres to the highest ESG standards.
The WFW Madrid team that advised Elawan was led by Partner Juan Vicente Barquilla, working closely with Senior Associate Antón Ramil and Associates María Gardeta and Guzmán Sáez.
Juan Vicente Barquilla commented: “We are grateful to Elawan for choosing us once again to advise them in this landmark transaction, which not only helps to diversify its portfolio but also ensures Elawan’s solid foothold in the renewable sector. It is always a rewarding experience working with Elawan, especially in a transaction which, in addition to showcasing WFW’s unrivalled experience in green and sustainable energy financings, also provided the opportunity to prove our expertise in the infrastructure sector thanks to the inclusion of the hydropower assets”.
