Addleshaw Goddard advised the project company, whose shareholders include Credicorp Group, Norfund and Agua Imara.
The transaction involved the company’s prepayment and exit from project finance arrangement with the existing lenders (FMO of the Netherlands, DNB of Norway, Proparco of France and DEG of Germany). These project finance loans were replaced with Panama-listed (LATINEX) bonds arranged by Banistmo and Banco General of Panama.
The 58MW capacity project, which began generating power in 2015, is a run-of-river power plant on the Chiriquí Viejo river, close to the border with Costa Rica, featuring a 2km canal connecting its two power houses.
AG’s team advising on the transaction was led by partner Rory Connor (Picture), supported by Inga Aryanova, Carl Baker, William Morrison, Ryan Ogg and Katie Bush.
Law Firms: Addleshaw Goddard;
Clients: Fountain Hydro Power Corp.;