Enlight Renewable gets €320 million project financing for wind farm

By Sarah Lizee

Olympia, Wash., June 22 – Enlight Renewable Energy completed about €320 million of project financing for the 312 MW Gecama wind farm in Spain with Banco de Sabadell and Bankia, according to a press release.

The project, scheduled to reach commercial operation in 2022, is expected to generate average annual revenues of €60 million, provide clean energy to about 260,000 Spanish households and prevent emissions of about 150,000 tons of CO2 annually.

The senior debt, which will account for 50% of the total project cost, is provided to the project company as a non-recourse loan. The senior debt will be repaid over the first 14 years as of commercial operation date.

Enlight Renewable Energy is a Tel Aviv-based company involved in the development, financing, construction, and operations of renewable energy generation projects.

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