Spain-based renewable energy developer, Elawan Energy closed financing for 175 MW of hydropower capacity in Spain through a €76 million (~ $88 million) non-recourse project finance deal. Following this, Elawan Energy has entered into a 10-year virtual power purchase agreement with Sandoz to develop 150 MW of solar projects in Valladolid, Castilla y León, Spain. According to Elawan Energy, the agreement will enable the planned solar projects to move toward commercial operation. Sandoz stated that the projects are expected to supply close to 90% of its current electricity needs for European operations. These developments involve new capacity in both hydropower and solar generation within Spain, adding to the country’s renewable electricity output and technology mix.