Baker Botts L.L.P. represented Riverstone Holdings. Otras Producciones de Energía Photovoltaica (Opdenergy) has been represented by Jones Day.
Opdenergy has reached an agreement to divest an 80% stake in the following two solar photovoltaic (“PV”) plants in Mexico to Riverstone Holdings LLC (“Riverstone”), the global asset management firm that invests in the private markets primarily within energy, power and infrastructure: Andalucía II, a 106MWp PV plant located in Coahuila P.S, and Aguascalientes Sur I, a 38MWp PV plant located in Aguascalientes.
Both plants are fully operational, having reached COD under their respective PPAs in January 2020. Closing is subject to customary approvals.
In connection with the acquisition of the plants, Riverstone and Opdenergy formed Vera Renovables, an 80/20 joint venture to develop, acquire and/or construct new renewable energy projects in Mexico, including Opdenergy’s PV pipeline in Mexico.
The Baker Botts team was led by Jeremy Moore (Picture) and included Stephen Noh, Jack Chadderdon, Ron Scharnberg and Jordan Hahn.
The Jones Day team included Enrique Martin, Josè Estandìa and Rodrigo Gòmez Ballina.
Involved fees earner: Jack Chadderdon – Baker Botts; Jordan Hahn – Baker Botts; Jeremy Moore – Baker Botts; Stephen Noh – Baker Botts; Ron Scharnberg – Baker Botts; Rodrigo Gómez Ballina – Jones Day; José Estandía – Jones Day; Enrique Martin – Jones Day;