Global law firm White & Case LLP has advised Rockville Capital and certain of its subsidiaries in connection with an approximately US$100 million senior secured credit facility, the proceeds of which will be used to develop a portfolio of photovoltaic plants in Chile under the country’s special regime for distributed generation projects (the “PMGD” regime by its Spanish acronym). The PMGD regime was created in 2005 with the goal of incentivizing more distributed electricity generation in Chile and more broadly to reach Chile’s objective of carbon neutrality by 2050.
Natixis, New York Branch acted as sole bookrunner for the facility. The portfolio will initially include six PMGD projects and the financing structure provides the flexibility to add additional projects to the portfolio over time upon satisfaction of certain criteria.
The White & Case team was led by partners Thomas Pate in New York and Martin Menski in DC and includes associates Jacqueline Stephanie Durand in Miami and Andrew Fernandez in New York.
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