Morales & Besa successfully advised EIG Atacama Management SpA in the
Morales & Besa successfully advised EIG group on the complete acquisition of the company “Likana Solar SpA”, part of the SolarReserve Group, owner of the Likana Solar Project, located in the Antofagasta Region. This project considers the construction and operation of three units of concentrated solar plant towers (CSP), whose individual net power generation capacity will be 150 MW.
The operation involved, among other matters, carrying out a due diligence process and the negotiation of the main contracts for the M&A, including the contract for the sale of the shares and a series of other documents intended to avoid any further liability of the Company with related entities, as well as the granting of a security to cover payment of a contingent price.
It is worth mentioning that the transaction represents the purchase of 100% of a company whose energy potential and the technology to be used, are highly innovative in the country. This will expand the presence of EIG group in Chile and, particularly, in the area of non-conventional renewable energy with CSP technologies. The Likana Project, once built, will be the largest CSP complex in Chile and South America.
The Morales & Besa’s team that participated in this operation was led by partner Eugenio Besa, along with senior associate Sebastián Leyton and associates Sebastián Nieme, Alfonso de Urruticoechea, Gonzalo Menchaca and Augusta Quiñones.