Milbank LLP has advised the lenders in connection with two separate renewable energy power projects in Latin America in Mexico and the Dominican Republic, respectively. These projects are in addition to recent renewables financings that have closed in Argentina, Chile and El Salvador.
The firm advised the Lenders in the financing of Jinko Solar’s Viborillas Solar Park in Mexico. The Lender group consists of Natixis, The Bank of Tokyo-Mitsubishi UFJ, BBVA Bancomer, Intesa Sanpaolo, Sumitomo Mitsui Banking Corporation and Société Générale. The financing was in respect to a utility scale photovoltaic solar power plant. Global Project, Energy and Infrastructure Finance partners Roland Estevez and Dan Bartfeld led the New York-based Milbank team, which included associates Rebecca Francus, Daniel Rios and David Waserstein.
Mr. Estevez said: “This financing is another example of the Mexican energy reforms continuing to bear fruit. The project highlights the growth in the renewables sector as it expands to meet the needs of Mexico’s growing population and industrial base.”
The firm also advised Citibank as lender in connection with the Agua Clara Wind Project in the Dominican Republic. The project is sponsored by Inkia Energy Ltd. Global Project, Energy and Infrastructure Finance partner Dan Bartfeld led the team, which included associates Kristina Hokenberg, Geoff Butterworth and Caroline Vorce.
Mr. Bartfeld said: “Development of renewable power projects throughout Latin America remains a priority for many Latin American government policy makers, and we continue to see extremely strong interest from international developers, investors and lenders.”
Milbank is the market leader in renewable energy projects globally, with a particular focus in Latin America. Milbank has advised on many of the largest and most high-profile projects in the wind, solar, biomass, biofuels, geothermal and hydroelectric sectors, and is consistently recognized by the leading market journals, including being named “Latin America Legal Adviser of the Year” for the past two years by IJGlobal, “Best Infrastructure Law Firm” by LatinFinance three times and “Global Projects & Energy Firm of the Year” by Chambers Global, as well as the “Top Legal Advisor for Clean Energy Project Finance” and Chambers “Energy/Projects Award for Excellence,” among others.
