Milbank LLP represented Natixis Corporate & Investment Banking (Natixis CIB), BNP Paribas and various institutional investors on a $379 million financing for a portfolio of solar photovoltaic utility-scale and PMGD plants in Chile, owned and operated by Solek Holding SE (Solek).
Solek is a leading company engaged in the design, construction, and operation of solar power plants in Latin America and Europe. The portfolio consists of 190MWdc solar projects which operate under Chile's special regime for distributed generation projects ("PMGD"), entitling the projects to sell their energy output at the regulated stabilized price, and a 94MWdc utility-scale solar PV facility.
The Milbank team was led by Global Project, Energy and Infrastructure Finance partner Jaime Ramirez along with associates Sama Rahman, Derrik Sweeney, Sam Smith, Yuman Xu and Pilar W. Martins.
“We are honored to have advised on this comprehensive financing arrangement, which will further contribute to the growth and diversity of the Chilean power market,” said Mr. Ramirez.
Milbank continues to have the lead legal role in many of the most significant Latin American infrastructure matters and regularly advises clients on a wide range of securities, financing and acquisition transactions. Milbank has one of the largest project, energy and infrastructure groups in the world with over 140 dedicated lawyers in its offices in the Americas, Europe and Asia. In the past five years, the firm has acted as the lead legal advisor in a wide variety of power, energy, oil/gas, natural resources and other infrastructure projects worldwide that mobilized hundreds of billions of dollars of capital. The firm has been recognized as a "Project Finance Practice Group of the Year" by Law360, "Latin America International Legal Adviser of the Year” by IJGlobal, "Latin America Legal Advisor of the Year" and "North America Legal Advisor of the Year" by Proximo, "Best Infrastructure Law Firm" by LatinFinance, "Banking & Finance Legal Adviser of the Year" by Bonds & Loans Latin America & Caribbean Awards, and "Law Firm of the Year" by Power Finance Risk Awards. Milbank is also consistently named a top international law firm for Latin America’s biggest companies by Latin American Corporate Counsel Association.
