Clifford Chance has advised BBVA, Intesa SanPaolo and MUFG Bank as lenders on a $252 million construction to back-leverage project financing package to OPDEnergy for the construction of two solar photovoltaic electric generating facilities in Louisiana and West Virginia.
The two projects, with a total nameplate capacity of 260 MWs, will contribute to the production of renewable energy in the United States and are estimated to prevent the release of 260,000 tonnes of carbon dioxide (CO2) into the environment. Moreover, the projects are expected to create more than 600 jobs in the region.
The cross-border, multi-practice team working on the transaction included a Madrid project finance team: partner José Guardo and lawyer Eduardo Sánchez.
Alex Leff and projects associate Lauran Smith (Washington, DC) led the transaction with support from associates Trevor Nichols, Serena Seaman (Washington, DC), Brianna Jones Rich and Leah Rahmani (New York). Also from New York, a real estate team formed by associates Dawn Goldberg, Meny Elgadeh, and Nina Binns and a structured finance team formed by partner Darren Littlejohn and associate Elizabeth Kennedy.