Milbank advised global wind and solar company, Mainstream Renewable Power Ltd., and its subsidiaries in connection with the project financing of the 148.5 megawatt (MW) Copihue phase, which comprises the Camán wind farm located in central Chile.
Together with the 630 MW Huemul portfolio and the 571 MW Cóndor portfolio, for which Milbank advised on the closings in October 2020 and November 2019, respectively, the Copihue phase is the final portion of Mainstream’s “Andes Renovables” power generation platform in Chile, which totals $1.8 billion, 1.35GW of solar and wind assets. Expected to be fully operation in 2022, the platform will provide roughly 20 percent of renewables-driven power for regulated customers in the Chilean energy market.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partners Roland Estevez and Dan Bartfeld, together with associates Kristina A. Hokenberg, Jeeseon Ahn, David Waserstein, Zach Sheppard, Victoria Xie, Elizabeth A. Martinez and Devan Zorn.
Mr. Estevez noted, “We are honored to continue to support Mainstream in the financing and development of one of the largest renewables platforms in Latin America.”
Mr. Bartfeld added, “Our work with Mainstream on this significant financing underscores our commitment to the Latin America renewable energy space. We are thrilled to have advised on all stages of this market-leading renewables platform, and look forward to our continued involvement in high-profile sustainable energy projects.”
Milbank continues to have the lead legal role in many of the most significant Latin American power, energy and infrastructure matters and regularly advises clients on a wide range of development, financing and acquisition matters. Recognized as the “Latin America Legal Advisor or the Year” by IJGlobal, Milbank has advised on seven renewables project that have closed in the region this year, including our representation in connection with Sonnedix’s Meseta del Los Andes Solar project, a solar portfolio by EnfraGen, the Rule 144A green project bond offering for ILAP, Solek’s 110 MW solar portfolio, the 101 MW San Pedro solar project and the 204 MW Cabo Leones II wind farm in Chile and the 99 MWa (125.83 MWdc) El Mayo PV power plant in Mexico.
