Atlas Renewable Energy’s Solar Project in Brazil

Atlas Renewable Energy's Solar Project in Brazil

White & Case LLP and Machado Meyer Advogados advised Atlas Renewable Energy in the deal. Allen & Overy and Dias Carneiro Advogados acted as counsel to Inter-American Development Bank, as lender, and Norway-based DNB Bank ASA, as unfunded participant.

Atlas Renewable Energy closed its limited recourse financing for the Lar do Sol – Casablanca project, a bi-facial technology solar project with a combined installed capacity of 359 MWp (the “Project”). The Project is located in the State of Minas Gerais, Brazil.

The proceeds of the financing (US$150 million loan), provided by IDB Invest and DNB Bank ASA, will be used to design, construct, commission and operate the Project as well as a transmission line to the Pirapora II sub-station, which will interconnect the Project with the electrical grid. The loan facilities include US dollar-denominated loans and Brazilian reais-denominated loans. 

Atlas Renewable Energy (Atlas) is an operating renewable energy company that develops, builds and operates solar and wind projects with robust returns across Latin America. With offices in Chile, Mexico and Brazil, Atlas holds a portfolio of 578 MW of contracted projects in development, construction or operational stages, and aspires to grow an additional 1.5GW over the coming few years.

The White & Case team that advised Atlas on the transaction was led by partner Thomas Pate (Picture) in New York and included associates Chris Bergan, Helena Buitrago and Camille Mendoza in Miami.

Machado Meyer Advogados advised Atlas with Partners Jose Prado and Ana Karina Souza and associate Paulo De Tarso Do Carmo Machado in São Paulo.

In-house counsels for Atlas included Arthur Chaves, Maureen Ryan, Kiara Sporer.

The A&O team that advised IBD Invest and DNB Bank was led by Partner Sami Mir senior counsel Andre de Paiva Teixeira in São Paulo; senior counsel Simon Hayes in New York; associates Nicole Ubal, Chris Jung, Jake Reed and Nancy Canales in Washington, D.C.; and associate Krystyna Lopez in New York.

Dias Carneiro Advogados acted as Brazilian counsel to IDB Invest and DNB with Partners Thiago Flores, Gustavo Junqueira and Paulo Leme,and associates Pedro Araujo, Arthur Fontoura and Rodrigo Murussi in São Paulo.

In-house counsel for IDB Invest was Patricia Alves de Toledo.

Involved fees earner: Simon Hayes – Allen & Overy; Chris Jung – Allen & Overy; Krystyna Lopez – Allen & Overy; Sami Mir – Allen & Overy; Jake Reed – Allen & Overy; Andre Teixeira – Allen & Overy; Nicole Ubal – Allen & Overy; Arthur Guttierrez Fontoura – Dias Carneiro Advogados; Gustavo Junqueira – Dias Carneiro Advogados; Paulo Leme – Dias Carneiro Advogados; Pedro Malvezzi de Araujo – Dias Carneiro Advogados; Rodrigo Murussi – Dias Carneiro Advogados; Thiago Vallandro Flores – Dias Carneiro Advogados; José Prado Jr. – Machado Meyer Advogados; Ana Karina Souza – Machado Meyer Advogados; Christopher Bergan – White & Case; Helena Buitrago – White & Case; Camille Mendoza Soto – White & Case; Thomas Pate – White & Case;

Law Firms: Allen & Overy; Dias Carneiro Advogados; Machado Meyer Advogados; White & Case;

Clients: Atlas Renewable Energy; DNB Bank ASA; Inter-American Development Bank;