Mainstream Renewable PowerTuesday, 05 November 2019
ByrneWallace is delighted to have recently advised Mainstream Renewable Power on Irish legal aspects of a US$580 million debt fundraise for key Chilean wind and solar projects. This is a major milestone in Mainstream’s long term commitment to bringing low cost, clean energy generation to Chile.
The debt financing is being provided by a syndicate of six banks – CaixaBank, DNB, KfW, IPEX-Bank, Natixis, SMBC and Societe Generale - and this will fund construction of phase one of what is one of Latin America’s biggest wind and solar generation platforms, comprising 571MW of wind and solar farms. They will generate enough sustainable electricity to power 680,000 Chilean homes and will displace 656,000 metric tonnes of CO2 each year.
The projects are part of a wider 1,300MW Chilean pipeline that Mainstream is developing through their Andes Renovables platform and the next two phases are on track to reach financial close in the coming months.
The ByrneWallace team comprised Gavin Blake (Partner – Head of Energy and Natural Resources), Eileen Prendergast (Partner - Banking), Mona Costelloe (Partner - Litigation), Daniel Holohan (Senior Associate - Corporate) and Kelly Mackey (Solicitor - Corporate).