Milbank LLP represented the lenders and administrative agent in connection with the $289 million financing of the development, construction, operation and maintenance of Atlas Renewable Energy’s battery energy storage system in Chile, with an aggregate storage capacity of 800 MWh.
This transaction is the first financing facility for a large-scale stand-alone battery energy storage system in Chile, with the project being set to become one of the largest energy storage projects in Chile and Latin America.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partner and Latin America group co-head Jaime Ramirez, along with Global Project, Energy and Infrastructure Finance special counsel Daniel Rios Zertuche and associate Natália d'Avila.