Cerro Dominador, project advised by M&B, received a double award In the last edition of the Project & Infrastructure Finance Awards – LatinFinance
In the last edition of the Project & Infrastructure Finance Awards, held by LatinFinance on October 3, 2018, the Cerro Dominador project received a double award for the Best Renewable Energy Financing and the Best Infrastructure Financing in the Andes Region. The Morales & Besa team has advised EIG Global Energy Partners in the Cerro Dominador project since 2015.
The senior financing for an amount exceeding USD 800 MM was signed in May 17, 2018 by a group of international and local financial institutions, including Natixis, Deutsche Bank, Société Générale, ABN AMRO, Santander, Commerzbank, Helaba, KB Insurance, KfW-IPEX, Kyobo and BTG Pactual, as well as a separate mezzanine financing provided by Brookfield that closed on July 3, 2018.
The concentrated solar plant will provide 110 MW of power, in addition to the 100 MW provided by the photovoltaic plant which is already in commercial operation. The CSP plant, which has 17.5 hours of thermal storage capacity, will provide electricity 24 hours a day, making this project unique among the renewable energy initiatives in the country, and it is the first concentrated solar plant under construction in Latin America. This final stage of the construction will be performed by a consortium formed by Acciona and Abengoa.
The M&B team for the Cerro Dominador financing transaction was composed by:
- Eugenio Besa (Lead partner)
- Francisca Pérez (Partner, tax)
- Sebastián Leyton (Senior Associate, energy & projects)
- Ignacio Menchaca (Senior Associate, project finance)
- Lorena Barrientos (Senior Associate, corporate)
- Verónica Vergara (Associate, energy, corporate)
- Gabriela Leaño (Associate, energy, corporate)
- José Manuel Llamazales (Associate, projects)
- Sebastián Nieme (Associate, project finance)
- Manuel José Eyzaguirre (Associate, corporate)
- Javiera Veloso (Associate, project finance)