White & Case Advises IDB Invest on US$440 Million Financing For Mendubim Solar Photovoltaic Power Plants in Brazil
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Global law firm White & Case LLP has advised IDB Invest on the limited recourse project financing for the Mendubim 531 MWp portfolio of solar photovoltaic power plants, transmission line and associated interconnection facilities located in the municipality of Assú, Rio Grande do Norte State, Brazil. The loan is provided by IDB Invest, which is part of the Inter-American Development Bank Group, and benefits from risk participations from commercial banks. The loan agreement was signed in November 2022 and the first drawdown occurred on March 22, 2023.
Brazil is a leader in clean energy in Latin America, and this project will help secure its electricity supply in a rapidly changing environment. Construction of the Mendubim solar power plants is continuing and is already 34 percent complete.
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region.
The White & Case team included partners John Anderson, Sean Goldstein, Martin Menski and Suzanne Perry, and associates Raffaele Turco, Margaret Zelenski, Fabiana Fadel and Eduarda Lague.
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