Milbank LLP advised Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), BNP Paribas, Crédit Agricole Corporate and Investment Bank and Natixis, New York Branch, as lenders, in connection with a $176.6 million senior green loan financing for Solarpack’s San Martin solar PV plant in Peru.
The San Martin solar plant, with a total installed capacity of almost 300 MW, is currently the largest solar plant in Peru's history.
“We are thrilled to have advised the lenders on this significant financing,” said Jaime Ramirez, co-head of Milbank’s Latin America Practice Group and lead Project, Energy and Infrastructure Finance partner on the financing. “As the largest solar plant in Peru’s history and the first renewable project financed in Peru based on a power purchase agreement between private parties, it marks a milestone for the energy market in Peru which will serve as a model for the power market moving forward.”
The Milbank team was led by Mr. Ramirez and included Global Project, Energy and Infrastructure Finance associate Natalia Rodriguez-Pastrana and law clerks Rafael Bresciani and Cecilia Legaspi.
