Garrigues represents IDB Invest in $300m financing to Engie

Garrigues has represented the Inter-American Investment Corporation (IDB Invest), as lender, and as agent on behalf of the Inter-American Investment Development Bank, in a $300 million financing to Engie Energía Perú.

The financing, completed on 5 August, has an 11-year term, and is aimed at refinancing bridge loans associated with the development of the Punta Lomitas wind farm.

Diego Harman, lead partner in the transaction, commented: “IDB Invest has a long history of supporting the development of renewable projects in Latin America, such as the Punta Lomitas wind farm, in which we are proud to have participated. ENGIE’s commitment to this project is key to further developing Peru’s potential to become a leader in renewable energy in the region”.

Hogan Lovells acted as advisor to BID Invest in New York. Miranda & Amado, and Linklaters acted as advisors to Engie in Peru and New York, respectively.

The Punta Lomitas project will consist of a wind farm with a combined nameplate capacity of 260 MW located in Ocucaje, Ica, Peru, and a 60 kilometre transmission line connecting the wind farm to the Sistema Eléctrico Interconectado Sistema Eléctrico Interconectado Nacional (SEIN), as well as the expansion of the wind farm to 36.4 MW.

Eric Franco and Daniel Villavicencio acted as in-house counsel for Engie; while Diego Noseda and Joshua Hartshorn acted as in-house counsel for IDB Invest.

Linklaters’ team consisted of partner Michael Bassett, counsel Alejandro Gordano, and associates Juan Mata and Manuel José Eyzaguirre.

Miranda & Amado was represented by partner Álvaro del Valle.

Hogan Lovells’ team included partners Ricardo Martínez, Federico de Noriega, counsel Todd Matras and associate Manuel Valdez.

Garrigues’ team was led by partner Diego Harman (pictured), with support from senior associate Johanna Holz and associate Alejandro Prado.