Daelim Energy’s $142 Million Acquisition of 12 Solar Power Projects from Grenergy

Carey and Philippi Prietocarrizosa Ferrero Du & Uría advised on the deal

Daelim Energy started developing 105MW Solar PV projects in Chile with Grenergy Renovables, a Spanish company, in October 2018.

On March 6, 2019, Daelim completed a financial closing with a total amount of US$130 million. The remainder $50 million will be invested along with Korea East West Power, which is a 49% equity partner.

The first 9MW project, Santa Rosa, started its commercial operation on April 12, 2019 and the other 11 projects also will be gradually constructed and operated by March 2020.

Daelim will generate profits through sales of power generation and carbon emission trading for 25 years after commercial operation.

Carey advised Daelim Energy on the deal with a team including Juan Francisco Mackenna (Picture) and José Tomás Hurley

PPU advised Grenergy Renovables and Grenergy Renovables Pacific with Federico Grebe and Constanza Rodríguez.

Involved fees earner: José Tomás Hurley – Carey; Juan Francisco Mackenna – Carey; Federico Grebe Lira – Philippi Prietocarrizosa Ferrero DU & Uría; Constanza Rodríguez – Philippi Prietocarrizosa Ferrero DU & Uría;

Law Firms: Carey; Philippi Prietocarrizosa Ferrero DU & Uría;

Clients: Daelim Energy Co Ltd; Grenergy Renovables S.A.;

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Author: Ambrogio Visconti.