Carey advised SunPower on solar plant sale
Carey acted for energy company SunPower on the sale of a solar power plant in Chile to Actis GP.
SunPower is a sustainable energy company headquartered in Silicon Valley which focuses on designing and building solar energy plants for residential customers, businesses, governments, schools and utilities around the world. The company is majority-owned by Total, the French energy multinational.
The buyer, Actis, is multi-asset emerging market investor with over $7.6bn in funds under management. Globally, the company has committed $5 billion to 33 energy infrastructure companies across over 25 countries generating 18 gigawatts of energy capacity. In Chile, Actis has already invested on a 1.2GW Pan-Latin American renewable energy platform, Atlas Renewable Energy; as well as in Chilean renewable platform Aela Energía which is targeting 330 megawatts of installed capacity.
The transaction, which value was not disclosed, involves the sale of El Pelícano project, a 100MW capacity solar power plant. El Pelícano, located in th north of Chile, will provide 100% of its power supply to Metro, the state-owned operator of the capital´s underground transport system.
Partners Juan Francisco Mackenna and Felipe Moro led the Carey team which advised Sunpower.
Actis retained Clifford Chance in the US and Claro in Chile. Partner José Guardo led the Clifford Chance squad while partner Rodrigo Ochagavía fronted the team at Claro.
Cariola, Díez, Pérez-Cotapos acted for Metro de Santiago, with partner Gonzalo Jiménez at the helm.
