Cuatrecasas advises Yinson on acquisition of Grenergy’s solar project
Cuatrecasas, through its office in Lima, has advised leading global renewable energy generation company Yinson Renewables on the acquisition of the 97MWp Matarani solar project in Peru from Grenergy Renovables (advised by PPU Peru).
The transaction has involved the purchase of a 100% interest in the Matarani project SPV, valued at approximately US$25 million, as well as the execution of the EPC contract for its construction and other contingent payments, valued at approximately US$65 million.
With this transaction, Yinson Renewables continues its expansion in Latin America, and particularly in Peru. In addition to the Matarani Project, Yinson also controls the Majes Project and is studying other investment opportunities in the country. The project, currently under construction, is expected to be operational in the third quarter of this year. Grenergy Renovables will provide operation and maintenance services for the plant during the first two years.
“The Matarani Project will inject around 260 GWh of renewable energy into the Peruvian grid every year, enough to meet the energy needs of around 62,000 Peruvian households and avoid the emission of more than 56,000 tonnes of CO2 per year. We are proud to have participated in the acquisition of this project and to contribute to Peru’s sustainable development,” said Oscar Trelles, lead partner of the operation.
PPU’s team included partner Rafael Puiggros and senior associates Luciana Carpio Rivero and Sergio Rodriguez.
Cuatrecasas’ team was composed of the office’s managing partner, Oscar Trelles (pictured left), with the support of partner Diego Carrión (pictured right), senior associate Álvaro Klauer and associate Augusto Hostia.
