Cuatrecasas advises on Chile project financing for OPDEnergy
Cuatrecasas has advised Spain’s OPDEnergy and Japan’s Sumitomo Mitsui Banking Corporation on the financing of two renewable energy projects in Chile
Spain-based renewables developer OPDEnergy has closed a $103 million (€86.9 million) financing arrangement to support two renewable energy projects in Chile, the 50MW La Estrella wind farm in the O’Higgins region, and the 104.3MW Sol de los Andes photovoltaic project in the Atacama region.
The project financing was secured from Japan’s Sumitomo Mitsui Banking Corporation (SMBC), allowing OPDEnergy to complete the construction of the wind farm and the Sol de los Andes solar facility.
Spanish civil engineering group OHL is currently building the La Estrella project under a balance-of-plant (BOP) contract. The wind farm will feature 11 Siemens Gamesa turbines and is expected to enter operations by the end of 2020.
OPDEnergy will act as its own engineering, procurement and construction contractor for the solar plant, which will be equipped with bifacial solar modules.
Cuatrecasas acted as OPDEnergy´s special adviser regarding the financing documents and as Spanish legal adviser regarding the particular issues of Spanish law, with a team from its Mexico City office made up of León López Iglesias (pictured), Jose Higinio Núñez Heather, Juan Carlos Galicia Orozco, Ana Isabel Echeverría and Alberto de Villa Albarrán.
