Abreu and JLA advises on the modernization of Cahora Bassa
Abreu Advogados and JLA Advogados have advised the French Development Agency in the financing operation for the hydroelectric de Cahora Bassa, the mozambican company that operates the hydroelectric use of the Cahora Bassa dam.
The team involved was coordinated by Zara Jamal, partner at Abreu and JLA Advogados, and Ana Sofia Batista, a partner at Abreu Advogados and also with the participation of Mafalda Teixeira de Abreu, a contracted partner at Abreu Advogados, and Isabel Pinheiro Torres, lead attorney at Abreu Advogados. This team was focused on extensive due diligence work and the preparation and review of the contractual package within the scope of this financing operation.
The program is called “Capex Vital”, and the purpose is based on the rehabilitation and modernization of the electricity production system of that complex hydroelectric.
This is a loan package of 100 million euros, which will help to extend the useful life of the plant by a minimum of 25 years, increase the reliability of the energy supply and reduce interruptions in the electricity production process. At this value plus 22 million euros given by the European Union, together with the French Development Agency, it is estimated that the “Vital Capex” program has an implementation period of 10 years and a total investment of around 600 million euros.
