Wedoany.com Report-Jun 6, Elawan Energy has secured €25 million in green financing from BBVA for the San Pedro wind farm, a 30MW project located in Querétaro, Mexico. This funding is supported by a Cesce Green Investment Policy, acting on behalf of the Spanish State.

The financing arrangement aligns with Elawan’s long-term sustainability strategy and supports the company’s expansion in the renewable energy sector. San Pedro, operational since September 2023, is the only wind farm in Querétaro. In 2024, it produced 105GWh of electricity.

Legal support for the transaction was provided by Clifford Chance on behalf of BBVA, while Linklaters advised Elawan Energy.

Carlota Reina, director of M&A and structured finance for the Americas at Elawan, stated: “This agreement highlights our ability to grow through innovative, market-tailored financing solutions.”

Elawan currently operates 2.1GW of renewable energy capacity across nine countries, with 830MW of projects under construction. Its global development pipeline surpasses 11GW, comprising 49% solar, 42% wind, and 9% hydro power.

In terms of operational distribution, Spain accounts for the largest share at 56%, followed by the United States with 14%, Turkey with 10%, and Brazil with 7%. Elawan is considered one of the leading independent producers of renewable power in Spain.