White & Case Advises on $306 Million Wind Power Project in Chile
Global law firm White & Case LLP has advised a group of leading commercial financial institutions and export credit agencies, including AB Svensk ExportKredit (SEK), Banco Security, DNB Group, KfW IPEX-Bank GmbH, Sumitomo Mitsui Banking Corporation and Eksport Kredit Fonden (EKF), in the long-term project financing of the San Juan wind power project in Chile.
The US$306 million project financing closed on November 19 and will fund the development, construction and operation of the 185 MW San Juan wind power project, which is being developed by Latin America Power in the Province of Atacama, Chile. This will be the first international project financing to close in Chile that is supported by distribution company power purchase agreements awarded in the December 2014 regulated market auction. In addition, the project includes a 220-kV, 86 km transmission line that will connect the project to Chile’s Central Interconnected System. Once complete, it will be largest wind farm in Chile with a dedicated transmission line.
The project financing was led by White & Case partner Carlos Viana and partner-elect Jeannine Acevedo. The cross-border team also included partners Ian Cuillerier, Sean Goldstein and Juan Manuel de Remedios; counsel Tallat Hussain; and associates Thomas Pate, Nicolas Endre, Ana Maria Arias, Adolfo Osorio, Julio Peralta, Jimena Jorro and Elizabeth Martinez in our Miami, New York, Madrid, London and Mexico City offices.
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