Cleary Gottlieb has counselled Credit Suisse, as letter of credit provider, on the acquisition in favour of Saavi Energía of Tierra Mojada, from the Spanish company Fisterra Energy and Blackstone.
The Letter of Credit Reimbursement and Security Agreement was signed and closed on 7 November 2022.
Tierra Mojada is a combined cycle power plant with a capacity of 874 megawatts, located in the state of Jalisco, Mexico.
Saavi Energía, portfolio company of Global Infrastructure Partners, has more than 20 years of experience in the generation and sale of electricity.
Cleary’s finance team included partner Adam Brenneman (pictured) and law clerk Mauricio Nieto. Counsel Matthew Brigham and associate Samuel Kramer advised on Tax matters. All lawyers are based in New York.