Global law firm White & Case LLP has advised Atlas Renewable Energy ("Atlas"), a renewable energy company operating in Latin America, on its US$114.4 million, long-term financing for two solar power projects in Uruguay. The two projects use 238,720 solar panel modules with an installed capacity of 75.8MWp. Atlas estimates the plants will remove 55,500 tons of carbon dioxide emissions annually and power close to 50,000 homes.
The financing on which the White & Case team worked took the form of a fairly unique structure involving senior and subordinated long-term loans provided by the Inter-American Investment Corporation, as well as the US sale of securities to select investors, or a US private placement. White & Case lawyers across multiples offices were involved in a number of aspects of the transaction, including working with the project development team at Atlas to finalize certain construction and operation and management arrangements for the projects.
Headquartered in Miami, Atlas Renewable Energy powers more than 800 megawatts (MWs) worth of renewable energy projects in Chile, Uruguay, Brazil and Mexico. Atlas Renewable Energy is a wholly owned subsidiary of Actis.
The White & Case team that advised on the transaction includes partners Carlos Viana in Miami, Juan Manuel de Remedios in Madrid and John Vetterli in New York. The team also includes associates Thomas Pate, Christopher Delp, Rosa Llamo and Chris Bergan in Miami, Julio Peralta in Madrid and Mårten Olsson in New York.
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