Milbank LLP represented a syndicate of lenders in connection with the $1 billion financing of Oasis de Atacama in Chile. The world’s largest energy storage project, Oasis de Atacama comprises three solar PV power plants totalizing 720 MW and a battery storage system with a capacity of up to 1.1 GWh. The lenders include Sumitomo Mitsui Banking Corporation, Société Generale, BNP Paribas, The Bank of Nova Scotia and Natixis, New York Branch.
Oasis de Atacama is expected to power more than 145,000 homes annually while reducing the emission of more than 146,000 tons of CO2.
“We are delighted to advise the lenders on this extraordinary and vital battery storage project,” said Milbank Global Project, Energy and Infrastructure Finance partner Jaime Ramirez. “Our team is fortunate to work with clients who are at the forefront of developing landmark renewable energy projects like Oasis de Atacama.”
The Milbank team was led by Mr. Ramirez and included special counsel Daniel Rios Zertuche and associate Sebastian Leon Nunez. Alternative Investments partners Elizabeth Martinez and John Williams, with associates Serge Holodny and Kaitlyn Tsai, advised on the derivatives.
