28 April, 2017 Chile

Pacific Hydro takes control of Chacayes plant

Energy, Mining and Natural Resources

Bofill Mir & Álvarez Jana Abogados has helped renewables company Pacific Hydro purchase a hydroelectric plant in the centre of Chile for US$43 million.

Pacific Hydro gained complete ownership of the Chacayes plant when it purchased the remaining 27.3% stake in a deal that closed on 27 March. Cachapoal Inversiones, an affiliate of Italian construction company Astaldi, was the seller and took counsel from Baraona Abogados.

Chacayes obtained a loan from Itaú CorpBanca and Banco de Crédito Inversiones in 2012. Both banks gave approval for the deal to go ahead, hiring Philippi Prietocarrizosa Ferrero DU & Uría (Chile).

The plant has an installed capacity of 111 megawatts, generating enough energy to supply more than 300,000 households per year.

China’s State Power Investment Corporation purchased Pacific Hydro for US$2 billion in December 2015 from IFM investors.

Counsel to Pacific Hydro Chile

In-house counsel – Oscar Lira, Javier Pereira and Xilonem Alvarez

Bofill Mir & Álvarez Jana Abogados

Partner Alejandro Álvarez Aravena, of counsel Maria Paz Cerda and associates Manuel Sánchez del Villar and Dan Jana Kausel

Counsel to Cachapoal Inversiones

Baraona Abogados

Partners Juan Pablo Baraona and Raúl Marshall, and associates Jeanne Marie Miquel and Rodolfo Vega

Counsel to Itaú CorpBanca and Banco de Crédito Inversiones

Philippi Prietocarrizosa Ferrero DU & Uría (Chile)
Partner Juan Paulo Bambach and associates Cristina Olavarría, María Paz Pulgar, Natalia Czwiklitzer and Felipe Ossa

Source: Latin Lawyer

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