7 July 2022
Clifford Chance advises on e-bus financing in Bogotá, Colombia
Leading international law firm Clifford Chance has advised Société de Promotion et de Participation pour la Coopération Economique S.A. and Financiera de Desarrollo Nacional S.A., as lenders in connection with the ~US$130 million financing for the purchase of a fleet of electric buses for the TransMilenio mass transportation system in Bogotá, Colombia.
The proceeds of the loan will be used to purchase 406 electric buses by Green Móvil, a joint venture between Colombian manufacturer Fanalca and French public transport operator Transdev. The financing will also cover support infrastructure for the operation of the fleet, including the corresponding charging stations and a 40,000 square meter yard and workshop.
With the incorporation of these 406 buses, TransMilenio's fleet of electric buses reaches almost 1,500, making it the largest electric bus fleet in Latin America.
The Clifford Chance team was led by partner Fabricio Longhin in Washington, DC and associate Julian Hurtado Vallejo in New York. The team also included associate Daniel Justus and paralegal Laura Cabrera in Washington, DC.
The firm has a track record of advising on infrastructure financing transactions in Colombia, most recently advising on the financing for the first line of the Bogota metro as well as on the financing for public infrastructure projects in Barranquilla, Colombia.