Clifford Chance Advises Natixis on EUR 76 Million Financing Deal with Elawan

Clifford Chance has provided advisory services to Natixis CIB in the financing of 23 small hydropower plants owned by Elawan Energy in northern Spain. The financing, worth EUR 76 million, supports Elawan's commitment to sustainability and energy transition goals. These hydropower plants have a combined capacity of 175 MW, with the majority derived from eight storage-based facilities that incorporate dams or balancing reservoirs. The remainder of the capacity comes from fifteen run-of-river plants. This non-recourse project finance transaction ensures that Elawan can sell the produced energy on the wholesale electricity market, offering stable revenues over the medium to long term. The advisory team from Clifford Chance was led by Global Financial Markets partner Jos Guardo, supported by counsel Eduardo Sánchez and associates María González and Lucas Domínguez, alongside other team members focusing on hedging and regulatory matters.