Cuatrecasas counsels Davivienda on $29m financing to Genser Power

Cuatrecasas, through its team in Bogotá, has advised Banco Davivienda on the structuring of a US$29,000,000 financing granted to the Genser Power group. The purpose of the transaction is to finance the development of a power generation project in Ecopetrol’s Caño Sur Block in Puerto Gaitán, Meta.

Thanks to this financing, Daviviendo was able to close a previous financing, which will make possible the design, construction, equipment supply, assembly, commissioning, testing, operation and maintenance of a thermoelectric power plant, with an installed capacity of 32 MW by Genser Power.

Ana María Sánchez, partner involved in the transaction, commented on the challenge that it entailed: “Structuring financing under project finance schemes is always complex and requires the maximum commitment from the legal team because it involves working on a multiplicity of fronts at the same time […] The Cuatrecasas team had to structure and produce a large number of complex legal documents, with which the project financing was articulated. We also had to review and respond to multiple regulatory questions, taking into account the nature of the project and the sponsors”.

Cuatrecasas’ team included partners Manuel Quinche (pictured left) and Ana María Sánchez (pictured right), senior associate Natalia Arango, associates Felipe Londoño, Laura Salazar and Natalia Serrano, along with intern Jerónimo Hernández.