Morales & Besa advises Credit Agricole Corporate & Investment Bank, Sumitomo Mitsui Banking Corporation and DNB Bank ASA as senior lenders for financing of Parque Eólico Cabo Leones I S.A.
Morales & Besa advised Credit Agricole Corporate & Investment Bank, Sumitomo Mitsui Banking Corporation and DNB Bank ASA as senior lenders for the financing of Parque Eólico Cabo Leones I S.A. for the construction of “Parque Eólico Cabo Leones”, a wind farm with an installed capacity of 115.5 MW and located in the Atacama Region, Chile.
The transaction demanded financial planning to have the terms of the documents and model of the project financing to be consistent with the executed PPAs between Parque Eólico Cabo Leones I S.A. and the Distribution Companies as part of the 2015 tender. The wind farm connects to the Chilean central grid by means of a 100 km transmission line, which is currently under construction. The Sponsors of the project are Ibereólica Renovables Chile S.A. and EDF EN Chile Holding SpA. The financing was for US$ 119,500,000 (construction loan) and US$ 18,882,004.64 (Letter of Credits financing).
The team at M&B was led by Partners José Miguel Carvajal, Carlos Silva , Myriam Barahona, and Francisca Perez, with senior associates Sebastián Leyton, Ignacio Menchaca, Ignacio Delpino, Jaime Rosso, and associates Aldo Cardinali, Paulo Quinteros, Isabel Cabezas, Sebastián Nieme and Katannya Jablonski.