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Clifford Chance advises Actis on Chile's largest wind and solar energy platform

6 August 2013

Clifford Chance advises Actis on Chile's largest wind and solar energy platform

International law firm Clifford Chance is advising emerging markets private equity firm Actis on a joint venture with Mainstream Renewable Power, the global wind and solar developer, to establish a US$1.4 billion renewable energy platform in the Republic of Chile.

Actis will invest US$290 million for its majority share of the joint venture vehicle, Aela Energía.  The total value of the project is US$1.4 billion including debt. Aela Energía plans to develop approximately 600MW of wind and solar power projects across Chile in the next three years, making it Chile’s largest wind and solar energy platform and boosting the country’s renewable energy capacity by 3.6%.

The transaction was led by project finance partner James Pay and corporate partner Nicholas Hughes.

Nicholas Hughes comments: "We are delighted to have worked with Actis on their first transaction in Chile, and to continue to play a key role in supporting private equity investment in the emerging markets power sector."

Clifford Chance's cross-practice Energy and Resources group has advised Actis on a number of key investments in the energy sector. The group also recently won "Legal Adviser of the Year – Renewables" at the Infrastructure Journal Awards 2013.