WFW advises Elawan on €760m Spanish renewable energy portfolio refinancing
The financing brings together a portfolio of operating renewable energy assets in Spain comprising 1+ GW of installed solar photovoltaic and onshore wind capacity.
The financing brings together a portfolio of operating renewable energy assets in Spain comprising 1+ GW of installed solar photovoltaic and onshore wind capacity.
The portfolio comprises 12 operational wind farms located in Aragón, Spain, with a total installed capacity of 487 MW.
The portfolio, acquired in December 2025, comprises the Fågelås, Dållebo and Boarp wind farms.
Developed in 2013 and engineered, procured and built by Belenergia, the project has been operational since 2018.
The portfolio projects have a total installed capacity of 88 MW.
The transaction involves the refinancing of Provencialis, a 48.4 MW fully operational wind farm in the Provence-Alpes-Côte d’Azur region of France.
With a total capacity of 381 MW, this sale was the largest M&A transaction in the German onshore wind sector in 2025.
Watson Farley & Williams advised Technique Solaire on its acquisition of Iberdrola Renouvelables France.
WFW advised a consortium of lenders comprising KfWIPEX-Bank, NatWest, Nordea and SEB, on a €330m project financing granted to OX2 for the construction of three greenfield onshore wind farms in Finland with a total installed capacity of 277 MW.
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