Further solidifying its position as a leading project finance advisor globally, Milbank LLP received four “Deal of the Year” awards at the Proximo Americas Awards on May 27, 2020. The awards were held virtually and was Proximo’s first ever “Digital Oscars of the Industry Awards Ceremony.”
The Proximo Americas Deal of the Year Awards recognize notable transactions across the region in the infrastructure and energy sectors. Winners are selected based on input from the publication and peer firms across various sectors and regions. Project Finance International also honored the firm this year for its role in six project finance transactions in Latin America, Asia, the Middle East and North Africa, including in renewables, oil and gas and power generation.
Dan Bartfeld, practice group leader of the firm’s Global Project, Energy and Infrastructure Finance Group, noted: “It is a true testament to our commitment to excellence to be honored by Proximo as a leading legal advisor and on eight landmark transactions in the Americas and Asia. Our team advised on impressive deals across a wide range of M&A, project development and financing matters in the energy and infrastructure market. We are fortunate our clients turn to us to advise them on their most significant and complex deals.”
Milbank transactions were honored in the following categories:
- Latin America Power Deal of the Year - GNA 1 LNG: Milbank advised the sponsors in connection with the development and financing of a major LNG-to-Power project at Açu Port in São João da Barra, Brazil. The financing will be used for phase 1 of the project, consisting of the development and construction of a 1,338MW thermoelectric plant, an LNG import and regasification terminal, and a substation and transmission line connecting the plant to the national grid. This project is part of the largest natural gas thermoelectric complex in Latin America.
- Latin America Mining Deal of the Year - Quebrada Blanca 2: Milbank represented the export credit agencies and commercial bank lenders in connection with the financing of the US$6 billion Quebrada Blanca Phase 2 (QB2) copper mine in Chile, one of the world’s largest undeveloped copper resources with an expected mine life of 28 years.
- Latin America Renewables Portfolio Deal of the Year – Condor / Andes Renovables Platform: Milbank advised Mainstream Renewable Power Ltd. and its affiliates in connection with the project financing of the 571MW Cóndor portfolio, which is comprised of three wind and one solar PV generation assets. The projects, including (i) an approximately 157MW wind farm to be located in Antofagasta, II Region, Chile, (ii) an approximately 185MW wind farm to be located in Antofagasta, II Region, Chile, (iii) an approximately 84MW wind farm to be located in Bío Bío, VIII Region, Chile and (iv) an approximately 145MW 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.
- North Americas Renewables Distributed Generation Deal of the Year – Arcadia Portfolio – Acquisition: Milbank represented HSBC, RBC, SMBC, and Natixis in connection with a US$475 million bridge loan financing supporting the acquisition of a portfolio of 320 MWs of distributed generation renewable energy assets by TerraForm from AltaGas.
Milbank has one of the largest project, energy and infrastructure groups in the world with over 125 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.
