Two firms act in financing project related to Mendubim
Machado Meyer advised Mendubim Geração de Energia, thirteen SPV’s, Scatec ASA, Equinor New Energy AS and Hydro REIN AS; Dias Carneiro Advogados advised IDB Invest, IDB, Banco Santander and BNP Paribas on a complex financing project related to the Mendubim solar power plant.
The financing of up to US$243 million – approximately R$1.2 billion – aims the development of autonomous construction, commissioning, generation, maintenance and operation projects of photovoltaic solar energy with a total installed peak capacity of approximately 531 MWp, in the City of Assú, State of Rio Grande do Norte (Mendubim Complex), including the installation of restricted transmission interconnection lines to the Sistema Inteligado de Intergração – SIN (National Interconnected System) (basic grid) at the Açu III 230 kv Substation (including, without limitation, own or third party substations and all related electric infrastructure). This is another landmark project, not only because of its magnitude, but also because of its peculiar characteristics, such as one of the first energy projects with a PPA indexed to USD structured under the legal basis of Law 14,286, of December 29, 2021, presence of self-production, risk participation structure, presence of three foreign sponsors, and a complex structure of collateral granted by the Brazilian entities to the Lenders.
In addition to contributing to the diversification process of the Brazilian energy matrix through the addition of renewable sources, the project will also generate value for the local community, since during its construction phase, it will provide the creation of more than a thousand direct and indirect jobs.
Machado Meyer relied on partners Ana Karina Souza, Jose Prado, Luis Filipe Gentil Pedro (pictured top from left to right), lawyers Aline Antonio, Carolina Goncalves dos Santos, Leticia Sobrinho de Aguiar and Murilo de Morais Rego
Dias Carneiro Advogados relied on partners Thiago Vallandro Flores, Paulo Leme , Gustavo Lasalvia; counsel Pedro Malvezzi de Araújo; associates Rodrigo Murussi, Stefania Gomes Toschi, Luis Bourg and legal assistant Maria Lorena Borille de Almeida.
