Enel’s $1.35 Billion Sale of 80% of 1GW large-scale solar in Mexico

Latham & Watkins and Norton Rose Fulbright advised on the deal

Enel Green Power finalized the sale of an 80% stake in 1.7 GW of operational renewable energy power projects or currently under construction in Mexico to Caisse de dépot et placement du Québec (CDPQ) and CKD Infraestructura México S.A. de C.V..

The transaction includes 1 GW of PV projects, which is comprised of the Villanueva I (427 MW), Villanueva III (327 MW) and Don José (238 MW) solar plants.

The portfolio, owned by special purpose vehicles of its local subsidiary Enel Green Power México S.r.l. de C.V, consists of 429 MW of operational power plants and 1,283 MW under construction.

The $1.35 billion transaction is being implemented through the sale of 80% of a newly formed Mexican holding company, which will own the special purposes vehicles.

Enel Green Power S.p.A. generates electricity from renewable resources in Europe, the Americas, Asia, and Africa. The company, led by Francesco Venturini, Alberto de Paoli, Donatella Izzo and Salvatore Bernabei, is based in Rome.

Latham & Watkins advised the Caisse de dépôt et placement du Québec with Antonio Del Pino (Picture), David Penna, Eric Merrill, Alan Rozen Porteny, Carlos Ardila and Malgorzata Soltys.

Norton Rose Fulbright advised Enel Green Power S.p.A. with Arturo Sferruzza (Picture), Kessar Nashat, Raquel Bierzwinsky, Hernán González Estrada, Mario Piana, Luigi Costa, Hannah Logan, Yamilet Echeverria, Santiago Ross, Carlos Campuzano, David Rajunov, Lisa Rancitelli and George Sismey-Durrant.

 

Involved fees earner: Arturo Sferruzza – Norton Rose Fulbright; Raquel Bierzwinsky – Norton Rose Fulbright; Hernán González Estrada – Norton Rose Fulbright; Luigi Costa – Norton Rose Fulbright; Hannah Logan – Norton Rose Fulbright; Kessar Nashat – Norton Rose Fulbright; Mario Piana Yanez – Norton Rose Fulbright; Yamilet Echeverria – Norton Rose Fulbright; Carlos Francisco Campuzano – Norton Rose Fulbright; Santiago Ross – Norton Rose Fulbright; David Rajunov Tawil – Norton Rose Fulbright; Lisa Rancitelli – Norton Rose Fulbright; Antonio Del Pino – Latham & Watkins; David Penna – Latham & Watkins; Carlos Ardila – Latham & Watkins;

Law Firms: Norton Rose Fulbright; Latham & Watkins;

Clients: Enel Green Power; Caisse de dépôt et placement du Québec (CDPQ);

 

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Author: Ambrogio Visconti