ContourGlobal Caribbean’s US$124 Million Power Plant Portfolio Financing

Clifford Chance advised The Bank of Nova Scotia on the financing.

The Bank of Nova Scotia (Scotiabank) provided an approximately US$124 million refinancing of the ContourGlobal Caribbean power plant portfolio comprising power plants in the Caribbean. Each project has long-term power purchase agreements with government-owned entities. The power plants have a combined generation capacity of approximately 274 MW.

The refinancing includes an accordion feature to provide the flexibility to increase the amount of the facility in the event the power plants enter into re-contracted power purchase agreements.

Working with Clifford Chance’s Partners Jessica Springsteen (Picture) and Julian Hurtado Vallejo were associates Eli Keene and Daniel Justus based in Washington DC. Partner Megan Gordon and counsel Jacqueline Landells advised on anti-corruption/sanctions-related provisions of the deal. Counsel Greg Kahn advised on the New York law hedging agreements.

Involved fees earner: Megan Gordon – Clifford Chance; Julian Hurtado Vallejo – Clifford Chance; Daniel Justus – Clifford Chance; Greg Kahn – Clifford Chance; Eli Keene – Clifford Chance; Jacqueline Landells – Clifford Chance; Jessica Springsteen – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Scotiabank;

Giulia Di Palma

Author: Giulia Di Palma