Allen & Overy advised the International Finance Corporation and North American Development Bank on their US$200 million in green loans to Energética Nova S.A.B. de C.V.
The financing is meant to fund four solar power plants across the country with a total capacity of 376MW.
IEnova is one of the largest private sector energy companies in Mexico, with operations in natural gas, power generation and refined products storage segments and this financing will help the company pursue its first solar energy projects. IFC’s US$100 million loan marks its first in Mexico certified under the Green Loan Principles, which provide guidelines to ensure that the loan is used to promote climate sustainable projects.
The A&O team was led by partner Sami Mir (Picture) and associate Pablo Umaña in the Projects, Energy, Natural Resources and Infrastructure (PENRI) Group and ECA Group out of Washington, D.C.
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