Solarpack Corporación Tecnológica’s Financing A PV Plant In Chile

Clifford Chance has advised Solarpack Corporación Tecnológica, S.A. as sponsor in connection with the financing of the construction of a 123 MW PV (photovoltaic) power plant located in the desert of Atacama (Chile), subject to German law with KfW-IPEX.

The total investment volume adds up to approx. USD 114 million, with KfW IPEX-Bank providing a long-term loan of up to USD 91 million and the related interest hedging. The firm also advised Solarpack on the engineering, procurement, construction, operation and maintenance contractual scheme (EPC Contract/O&M Agreement/Asset Management Agreement/Development Agreement).

Solarpack Corporación Tecnológica, S.A., a multinational company, specializes in electrical generating projects, primarily in the field of solar photovoltaic energy. It engages in the development, financing, construction, operation and maintenance, and asset management of photovoltaic solar power plants. The company generates energy through 11 solar photovoltaic plants located in 4 countries that add a total capacity of 252 MWdc. It operates in Spain, Chile, Peru, Uruguay, Colombia, the United States, South Africa, Malaysia, Vietnam, and India. The company was founded in 2005 and is based in Getxo, Spain.

A multijurisdictional Clifford Chance team advised as to the matter of German law in Latin America. The team was led and coordinated by José Guardo (Picture), head of the Spanish Banking & Finance practice area, and by German Partner Florian Mahler, with support from Madrid associates Eduardo Sánchez and Gabriel Miranda and Düsselforf associate Pamela Horn.

Involved fees earner: José Guardo – Clifford Chance; Florian Mahler – Clifford Chance; Gabriel Miranda – Clifford Chance; Eduardo Sánchez – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Solarpack Corporacion Tecnologica, S.L. ;