Carey counsels SUSI on acquisition of PMGD projects in Chile

Carey has counselled SUSI Partners, a Swiss investment manager specialising in sustainable energy infrastructure investments, on the financing obtained by SETF Energías Renovables, a subsidiary of SUSI, from Banco de Crédito e Inversiones, Miami Branch and DNB Bank ASA, for the acquisition, construction, development and operation of a portfolio of PMGD projects located in Chile, with a combined capacity of 107 MW.

This transaction was completed on 27 September and involved the jurisdictions of Chile and the United States (New York). Milbank acted as counsel to SUSI in NY, while Guerrero Olivos and White & Case advised the lenders locally and internationally, respectively.

This is SUSI Partners’ first investment in renewable energy in Chile. The projects are under construction and are expected to be fully operational by the end of 2024. The portfolio was acquired by SUSI as part of a framework agreement with BIWO Renovables, a Chilean renewable energy developer with extensive experience in developing renewable energy projects.

Guerrero Olivos’ team comprised partner Benjamín Novoa, together with associates Loreto Cruz and Ignacio Chomalí.

White & Case’s team included partner Thomas Pate, and associates Chris Bergan and Aída Fernández Laez.

Milbank’s team was represented by partner Jaime Ramírez and associates Louise Toledo Farias, Travis Haltom and Sol Avalos.

Carey’s team was led by partners Felipe Moro (pictured left), Manuel José Garcés (pictured centre) and José Tomás Hurley (pictured right), with support from associates Loreto Ribera, Benjamín Echeverría, Alejandro Toro and Tomás Águila.