November 28, 2018
Clifford Chance advises lenders on a wind farm project financing under Argentina's RenovAr program
Clifford Chance advised the Inter-American Investment Corporation ("IDB Invest") - acting on behalf of the Inter-American Development Bank ("IDB"), as well as KfW Group, KfW IPEX-Bank GMBH and EKF Denmark's Export Credit Agency - on the US$108 million project financing for the Bicentenario 125,2 MW renewable wind energy power plant located in the Province of Santa Cruz, Argentina.
The Clifford Chance team was led by partner Kate McCarthy and included senior associate Jessica Springsteen and associate Greg Jehle. The Firm worked with local counsel Bruchou, Fernández Madero & Lombardi, led by partner Analía Battaglia.
With the completion of this deal, the Firm has now advised on seven project financings, with more deals currently under way, since the 2017 launch of RenovAr, Argentina's innovative renewable energy infrastructure program. The country has set the ambitious goal of growing renewables to 20% of its national energy matrix by 2025.
Clifford Chance has been recognized for decades as a preeminent law firm in Latin America. The Firm is known for successful, novel deal structures and for its award-winning ability to drive innovation across the region. For decades, the Firm has advised clients on complex transactions, often at the forefront in the development of new markets. Clifford Chance's dedicated Latin America group works seamlessly across practices on matters involving project development and the delivery of cutting-edge finance and capital markets structures, representing issuers, initial purchasers, underwriters and investors. These representations play to the Firm's strengths in tapping its global footprint across offices in the Americas, Europe, and Asia, and in offering an Energy & Infrastructure team that is comprised of bilingual and culturally fluent lawyers who understand Latin America's distinct business, legal and regulatory landscapes, as well as the evolving needs of a diverse client base. The group is currently working on groundbreaking financings in Argentina and Paraguay, and it continues to lead the way in Colombia and Peru.