Spanish renewables company gets loan to launch in Chile
Cuatrecasas (Mexico) and Carey in Santiago have helped Spanish renewables company OPDEnergy obtain a US$103 million credit facility to fund the construction of a wind farm and solar park in Chile, marking its entry to the local renewables market.
Barros & Errázuriz Abogados in Santiago advised the lenders, SMBC and Banco Security, in the deal, which was announced on 24 August.
US firm Milbank were also involved in the deal, but Latin Lawyer could not confirm which parties they advised prior to publishing.
The Spanish company will use the loan to finance the construction and operation of a 50-megawatt wind farm in Chile’s central O’Higgins region. It will also build the Sol de Los Andes solar park in the northern Atacama region. That facility will have an installed capacity of 104 megawatts.
The La Estrella wind farm is already under construction and will begin operating by the end of 2020. Spanish construction group OHL is building the facility, while Spain-headquartered Siemens Gamesa will provide the 11 wind turbines for the farm.
It is not yet known when the solar facility will become operational.
The transaction is part of OPDEnergy’s plan to expand in Latin America, where it already had assets in Mexico
Founded in 2005, OPDEnergy’s portfolio of global power assets has a combined installed capacity of 5,000 megawatts, with operations in Italy, Spain and the US, in addition to its assets in Latin America.
Counsel to OPDEnergy
Partners León López Iglesias and José Higinio Núñez, and associates Alberto de Villa, Juan Carlos Galicia and Ana Isabel Echeverría in Mexico City
Partners Felipe Moro, Juan Francisco Mackenna and Matías Vergara, and associates Fernando Noriega, Rafael Mackay, Fernanda Valdés, Sophia Bobadilla, Carmenmaría Poblete, Francisco Contreras, Francisco León, Julio Recordon, Esteban Fresno, Valentina Mendoza, Diego Ibarrola and Francisca Hernández in Santiago
Counsel to Sumitomo Mitsui Banking Corporation (SMBC) and Banco Security
Barros & Errázuriz Abogados
Partners Carola Trucco and Enrique Barros, counsel Cristóbal Pellegrini, and associates Ignacio Urbina, Verónica Vergara, Fernanda Becker, Fernando Calderara, José Miguel Poblete, Jorge Covarrubias, Jerónimo Amenábar, Martín Vial, Isidora Cavallini and Nicolás Valdivieso in Santiago