Clifford Chance

Clifford Chance is the official legal sponsor of MIREC Week

Clifford Chance announced that it is the official legal sponsor of MIREC Week, Mexico's Clean Energy & Mobility Exhibition & Congress. The week-long conference will be held on May 21 to May 24, 2018 in Mexico City. More than 1,800 professionals from across the clean energy industry, including developers, investors, policymakers and service providers will be in attendance.

Partners Gianluca Bacchiocchi and José Guardo, and associates Alberto Haito, Guido Liniado and Alan Sakar will be representing the Firm at MIREC Week. In addition, Mr. Guardo will be participating on a panel discussion on May 21, speaking on "Capital raising criteria: What you need to know about PPAs and project bankability." The panel will focus on issues including:

• Specifying the terms under which the offtaker purchases power produced by the PV plant
  
• Denominating PPA payments in pesos or US dollars, adjusting for inflation and financing projects with dollar-denominated debt
  
• Assessing the prospects for dual-tranche financing, with commercial and development banks
  
• Determining the impact of the length of the PPA on project bankability and what to do after a short or medium term PPA comes to an end

"Mexico has placed a strong emphasis on clean energy and we are excited to be involved within the Mexican energy sector as it evolves and develops, and are looking forward to attending this very important industry conference," said Mr. Guardo.

Clifford Chance is an international law firm with a significant presence in Latin America. Based on a deep cultural understanding of Mexico, Clifford Chance has participated in several notable transactions that have advanced the development of Mexico by advising both multinational companies and various financiers, including the first PIDIREGAS projects, self-supply projects, more than six projects awarded during the Long-Term Auctions, and the first FIBRA E related to transmission assets.

The Firm has been involved in the Mexican Energy Reform since its conception and has a solid, first-hand understanding of the secondary regulations and bankability issues arising under the new PPA, and authored several articles on topics related to the electricity reform, including in respect of the main features of the PPAs used for the first three auctions and the new clearing-house. View our client briefings issued following the first, second and third power auctions.