Invenergy’s acquisition of La Jacinta solar plant in Uruguay

Clifford Chance, Guyer & Regules, Hughes & Hughes, White & Case, FERRERE and Chadbourne & Parke have advised on the deal

Fotowatio Renewable Ventures (FRV), a leading global utility-scale solar developer, has signed an agreement with Invenergy, a privately-held company that develops, owns and operates utility-scale renewable energy projects and storage facilities, for the sale of the 65 MWdc La Jacinta solar plant in Uruguay, one of the largest photovoltaic (PV) projects in Latin America.

Inter-American Development Bank, who financed with a $81 Million Loan the plant, has approved the deal.

Located in Salto in the north of the country, La Jacinta began operations in October 2015, and was the first large-scale solar project in Uruguay. The plant produces 102,735 MWh, providing clean power to more than 34,000 households, while reducing CO2 emissions by 72,000 tons per year.

La Jacinta was the first solar Power Purchase Agreement (PPA) signed with the National Administration of Power Plants and Transmission (UTE), which receives 100% of the energy generated.

The PPA was signed in the context of an ambitious government policy aimed at promoting solar energy in the country.

In Spain, Clifford Chance has advised Fotowatio Renewable Ventures, B.V. with José Guardo (Picture) and Eduardo Sánchez.

In Uruguay, Guyer & Regules has advised Fotowatio Renewable Ventures, B.V. with Federico Susena, Diego Baldomir, Marcos Payssé and Carolina Suárez.

In Uruguay, Hughes & Hughes has advised Invenergy with Haroldo Espalter, Mariana Estradé, María Eugenia Gitto, Clara Villaamil, Tania Cavallo and Marcela Severi.

In US and Spain White & Case has advised Invenergy LLC with Christian W. Hansen, Thomas Pate, Ana María Arias, Elizabeth A. González and Elisabeta Pérez-Ardá.

FERRERE has advised Banco Interamericano de Desarrollo with Gonzalo Secco and Sebastián Ramos.

In New York Chadbourne & Parke has advised Banco Interamericano de Desarrollo with Raquel Bierzwinsky, Richard Susalka and Brad Warner.

Involved fees earner: Federico Susena – Guyer & Regules; Diego Baldomir – Guyer & Regules; Marcos Payssé – Guyer & Regules; Carolina Suárez – Guyer & Regules; Gonzalo Secco – Ferrere Attorneys; Sebastián Ramos – Ferrere Attorneys; Haroldo Espalter – Hughes & Hughes Abogados; Mariana Estrade – Hughes & Hughes Abogados; María Eugenia Gitto – Hughes & Hughes Abogados; Clara Villaamil – Hughes & Hughes Abogados; Marcela Severi – Hughes & Hughes Abogados; Raquel Bierzwinsky – Chadbourne; Richard Susalka – Chadbourne; Brad Warner – Chadbourne; Christian Hansen – White & Case; Thomas Pate – White & Case; Ana Maria Arias – White & Case; Elizabeth Gonzalez – White & Case; Elisabeta Pérez-Ardá – White & Case; José Guardo – Clifford Chance; Eduardo Sánchez – Clifford Chance;

Law Firms: Guyer & Regules; Ferrere Attorneys; Hughes & Hughes Abogados; Chadbourne; White & Case; Clifford Chance;

Clients: Fotowatio Renewable Ventures; Inter-American Development Bank; Invenergy LLC;