Milbank LLP advised Mainstream Renewable Power Ltd. and its affiliates in connection with the project financing of the 571 megawatt (MW) Cóndor portfolio, which is comprised of three wind and one solar PV generation assets.
The projects, including (i) an approximately 157 MW wind farm to be located in Antofagasta, II Region, Chile, (ii) an approximately 185 MW wind farm to be located in Antofagasta, II Region, Chile, (iii) an approximately 84 MW wind farm to be located in Bío Bío, VIII Region, Chile and (iv) an approximately 145 MW solar power plant to be located in Atacama, III Region, Chile, will generate enough sustainable electricity to power 680,000 Chilean homes and will displace 656,000 metric tonnes of CO2 each year, according to the company.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partners Roland Estevez and Dan Bartfeld and associates Jeeseon Ahn, Jared Ragozine and Sharaf Islam.
Mr. Estevez said: “We are very pleased to have advised Mainstream on the Condor portfolio, the first phase of one of the largest wind and solar power generation platforms in Latin America.”
Mr. Bartfeld added: “Milbank is extremely active in the Latin America renewable energy space and we are thrilled to support Mainstream, one of the world's leading independent developer of renewables, on this successful and very large transaction.”
In recent months, Milbank has advised on billions of dollars of renewable energy transactions across Latin America, including a wide range of solar and wind projects in Chile, Mexico, Colombia. Peru and Brazil. These transactions include M&A portfolios (buy-side and sell-side), as well as capital markets (144A), US private placements, commercial bank and direct lender portfolios.
