Clifford Chance

Clifford Chance advises IDB Invest on Tacuarembó-Salto Transmission Line in Uruguay

Leading international law firm Clifford Chance has advised IDB Invest on the US$87 million financing to a trust established by Administración Nacional de Usinas y Trasmisiones Eléctricas (UTE) for the design, construction and maintenance of the 365km 500kv Tacuarembó-Salto transmission line, two associated substations and ancillary facilities. The transmission line will connect the Uruguayan municipalities of Tacuarembó, Salto and Chamberlain. The estimated total cost of the project is US$204 million.

This initiative marks IDB Invest’s first issuance of a certificate for green transmission lines. Certification is given to projects that transport energy from renewable sources, such as wind, hydro, solar and sustainable biomass.

Lead partner Fabricio Longhin commented: "We are pleased to partner with our long-time client IDB Invest on the financing of the first green transmission line in Latin America and are very proud to be working on transactions that are shaping the energy transition and contributing to a sustainable future in the region."

Working with Fabricio on the transaction were associates Patricio Abal in São Paulo and Daniel Justus in Washington, DC.

Clifford Chance advises on many landmark renewable energy transactions in the Latin American market. The team recently advised IDB Invest in connection with the first financing of battery storage assets in Central America as well as CMI Energía on a US$700 million green bond and US$300 million syndicated loan facility.