Cuatrecasas and BU in financing for Shangri-La Project
Cuatrecasas, through its Bogotá office, has advised IDB Invest and Bancolombia in the granting of a long-term loan for a total amount of 473.77 billion Colombian pesos in favour of a trust vehicle set up by Atlas Renewable Energy Colombia and Isagen for the Shangri-La solar generation project. Brigard Urrutia has advised Atlas Renewable Energy, in its role as debtor.
This project, located in the Tolima region, will be a solar photovoltaic plant with an installed capacity of 201 MWp, accompanied by its respective transmission line. It is one of the largest generation capacity projects in Colombia.
Shangri-La inaugurates the alliance between Atlas Renewable Energy and Isagen to diversify the country’s energy matrix through the injection of more than 1,000 megawatts (MW) of energy from renewable sources. The project is a key step in the country’s energy transition, reducing both greenhouse gas emissions and dependence on hydroelectric generation and fossil energy sources.
It is estimated that the new plant will generate around 403.7 GWh of clean energy per year, equivalent to supplying around 214,000 homes and avoiding the emission of around 162,000 tonnes of CO2.
Cuatrecasas’ team included partner Juan Carlos Puentes (pictured left), together with associates Angie Gómez, Lorenzo Lizarralde, Juanita Calderón and Verónica Hernández. In addition, Carlos Lasarte, Ramiro Guisasola, Juan José Ruiz and Sara Ruiz advised the financing group from a Spanish law point of view.
BU’s team comprised partner Cesar Rodriguez (pictured right), director Mario Alejandro Forero, and associates Maria Alejandra Salamanca, Carlos Cerón-Amador, Jorge Pablo Velasco and Juan Felipe Alonso, among others.
