Hidronormandia S.A. secures $78 Million Loan


Andrews Kurth Kenyon and Pe?rez Bustamante & Ponce have advised on the transaction

Inter-American Investment Corporation (“IIC”), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”), as senior lenders, and Canadian Climate Fund For The Private Sector In The Americas (“C2F”, as a subordinated lender, and together with IIC and FMO, the “Lenders”), closed on a US$78 million secured loan facility to Hidronormandia S.A. (“Hidronormandia”).

The proceeds of the facility will be used by Hidronormandia to finance the design, development, financing, construction, ownership, operation, and maintenance of a run-of-the-river hydroelectric power plant named “Normandia” on the Upano river, with an estimated capacity of up to 49.60MW located about 20km from the City of Macas, Province of Morona-Santiago in southeastern Ecuador.

The US based firm of Andrews Kurth Kenyon LLP advised the Lenders as international counsel. Local legal advice was provided by Perez Bustamante & Ponce.

Andrews Kurth Kenyon LLP has advised with a team including Vera Rechsteiner (Picture), Eric Markus and Siddharth Sethy.

Perez Bustamante & Ponce has advised with a team including Bruno Pineda and Natalia Almeida.

Steptoe & Johnson LLP has advised Hidronormandía S.A. with Filiberto Agusti and Hever M. Bascon, Jr.

Involved fees earner: Bruno Pineda-Cordero – Pérez Bustamante & Ponce; Natalia Almeida Oleas – Pérez Bustamante & Ponce; Vera Rechsteiner – Andrews Kurth Kenyon; Eric Markus – Andrews Kurth Kenyon; Siddharth Sethy – Andrews Kurth Kenyon; Filiberto Agusti – Steptoe & Johnson LLP; Hever Bascon Jr. – Steptoe & Johnson LLP;

Law Firms: Pérez Bustamante & Ponce; Andrews Kurth Kenyon; Steptoe & Johnson LLP;

Clients: Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.; Inter-American Investment Corporation; Hidronormandía S.A.;

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Author: Ambrogio Visconti