Milbank, Tweed, Hadley & McCloy LLP advised MUFG, Credit Agricole, SMBC, BNP Paribas and Scotiabank in connection with the financing of the acquisition by the EDF Group – in a joint venture with the Chilean electricity company AME – of multiple power plants in Chile, currently owned by ESSA (an AES Gener S.A. subsidiary). The four power plants have a total combined capacity of 750 MW of flexible generation capacity (gas and peak demand).
The assets include (i) the Nueva Renca 379 MW dual-fuel combined cycle power plant, (ii) the Renca I&II 100 MW diesel-fired power plants, (iii) the Los Vientos 132 MW diesel-fired open cycle back-up power plant and (iv) the Santa Lidia 139 MW diesel-fired open cycle back-up power plant.
The Milbank team was led by partners Dan Bartfeld and Jaime Ramirez with associates Jeeseon Ahn and Aqsa Mahmud.
Mr. Bartfeld said: “We are pleased to have advised the lenders on this acquisition of flexible generation assets, which will help further the development of the energy markets in Chile.”
Milbank has advised on a long line of major Chilean financings, including recently having the lead role on: the Aela Energía Wind Farm Portfolio; the ISA Transmission Line; the Prime Energía backup power facilities and the Cabo Leones I Wind Project.
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