White & Case advises investors on landmark financing for Chile battery storage project

Global law firm White & Case LLP has advised the investors on the financing of El Pelicano Solar Company SpA's battery energy storage system (an Actis Long-Life Infrastructure company), to be located in La Higuera, Chile. This transaction marks the first capital markets financing of a single-asset battery storage project in Chile.

The financing involved the issuance and sale of senior secured notes to fund the construction and completion of an 82 MPw, four-hour battery energy storage system adjacent to an existing 110 MW solar project, as well as the refinancing of certain indebtedness.

The notes were issued in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933. BNP Paribas acted as placement agent.

The White & Case team was led by partner Thomas Pate and included associates Helena Buitrago and Mervé Soylu (all in New York), law clerks Melinda Calderon (New York) and Guido Meirovich (Miami) and Latin America Fellow Paula Cerizola (Miami).

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