Eurus Energy’s $80.5 Million Green Loan

Claro & Cia. and Orrick advised Eurus Energy.
Garrigues and Milbank advised Sumitomo Mitsui Banking Corporation and Morales & Besa advised Banco de Crédito e Inversiones

SMBC Group has closed on a $75 million green loan, in addition to an associated $5.5 million letter of credit facility, for Eurus Energy America, a San Diego, CA-based energy development company wholly owned by Eurus Energy Holdings Corporation, a renewable energy IPP based in Tokyo, Japan. SMBC served as the Green Loan Coordinator, Structuring Bank, Bookrunner and Swap Coordinator for this transaction.

The green loan will be used to fund the ongoing acquisition and construction of a portfolio of approximately 80MW in greenfield solar plants in Chile. The portfolio will consist of several solar photovoltaic (PV) projects that generate electricity and will sell their generation under the Chilean “PMGD” system, which is designed for smaller distributed-generation projects. Eurus currently owns two operational solar PV plants in Chile and, with this new portfolio, will own and operate approximately 100MW of solar PV plants.

Claro & Cia. advised Eurus Chile Investments SpA and Eurus Energy America LLC with Rodrigo Ochagavia (Picture), José Luis Ambrosy, María Soledad Valenzuela, Daniela Bartolucci, Javiera Eyzaguirre and Valentina Vizcay.

Orrick, Herrington & Sutcliffe advised Eurus Chile Investments SpA and Eurus Energy America LLC in US.

Garrigues advised Sumitomo Mitsui Banking Corporation with Pedro García Morales, Federico Espinosa Fernández, Francisco Irarrázaval Armendáriz and María Francisca Correa.

Milbank advised Sumitomo Mitsui Banking Corporation in US.

Morales & Besa advised Banco de Crédito e Inversiones (BCI) in Chile.

Involved fees earner: Valentina Vizcay – Carey; José Luis Ambrosy – Claro y Cia; María Javiera Eyzaguirre F. – Claro y Cia; Rodrigo Ochagavía – Claro y Cia; María Soledad Valenzuela – Claro y Cia; María Francisca Correa – Garrigues; Federico Espinosa Fernández – Garrigues; Pedro García Morales – Garrigues; Francisco Irarrázaval Armendáriz – Garrigues;

Law Firms: Carey; Claro y Cia; Garrigues;

Clients: Eurus Energy; Sumitomo Mitsui Banking Corporation;