Spanish renewables developer Elawan Energy announced that it has closed financing for two solar projects with a combined capacity of 147 MW it is currently building in the US state of Texas.
Lenders Mitsubishi UFJ Financial Group Inc (MUFG) and Banco Bilbao Vizcaya Argentaria SA (BME:BBVA) provided USD-160-million (EUR 159.9m) in debt financing, Elawan said.
The funds will support the 60-MW Pitts Dudik Solar project in Hill County and the 87-MW Dileo Solar in Bosque County, both in the construction phase.
Elawan expects the solar farms to come online in 2023, and be capable of generating some 283 GWh per year, it said.
Madrid-based Elawan, part of Japanese group ORIX Corporation (TYO:8591) since last year, currently has over 1,100 MW of operational capacity spread across 14 countries, the company added.
(USD 1.0 = EUR 0.990)
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