Corporación Interamericana para el Financiamiento de Infraestructura, S.A.’s Financing of a Portfolio of Solar Photovoltaic Projects in the Republic of Chile

Clifford Chance advised Corporación Interamericana para el Financiamiento de Infraestructura, S.A. on the deal.

Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI) acted as senior and subordinated lender, mandated lead arranger and administrative agent, in connection with the financing of a portfolio of solar photovoltaic projects in the Republic of Chile. The initial disbursement under the facility will finance two PMGD projects, Don Flavio and El Huaso, located in the regions of Maule and Valparaíso. Each project with have a total installed capacity of 2.99MWp, and additional projects will be added to the facility in due course.

The portfolio consists of solar photovoltaic projects, which are small distributed generation projects that operate under Chile’s Pequeños Medios de Generación Distribuida program (PMGD). PMGD projects are entitled to be remunerated for their generation at a regulated stabilized price calculated by the Chilean National Energy Commission. The PMGD program was created by the Chilean government in 2005 with the goal of incentivizing the development of distributed generation projects closer to the end users.

Working with Clifford Chance’s Partner Jessica Springsteen (Picture) on this transaction was special legal consultant Alan Sakar Azuara, associate Greg Jehle and law clerk Jenny Ahn.

Involved fees earner: Greg Jehle – Clifford Chance; Jessica Springsteen – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Corporación Interamericana para el Financiamiento de Infraestructura S.A.;

Giulia Di Palma

Author: Giulia Di Palma