Cuatrecasas advises Santander, CaixaBank and BBVA on project finance for Acciona in Peru
Cuatrecasas has advised Banco Santander, Caixabank and BBVA on two significant financing transactions for concessionaire companies of the Acciona group, whose objective is the construction of power transmission lines in Peru.
The first transaction was for Santander and Caixabank in the financing of Concesionaria Transmisora Hub Poroma for the construction and commissioning of 386 kilometers of transmission lines, six new substations and the expansion of another six pre-existing substations.
Cuatrecasas has also advised BBVA on the financing agreement with Concesionaria Transmisora Reque Tumbes and Concesionaria Transmisora Ica – Poroma for the construction and commissioning, also in Peru, of several power transmission projects: the LT Reque-N. Carhuaquero, the SE + LT Tumbes – Nueva Tumbes, the LT Ica-Poroma and the ITC Cáclic-Jaén Norte.
Both financings will allow the Acciona Group to carry out projects of enormous strategic value for the Andean country, as they benefit millions of inhabitants in the north and south of the region, and provide access to a significant volume of GW of renewable energy.
The transactions have been subject to Spanish law and have a strong Peruvian law component in terms of the underlying asset and the existence of Peruvian accredited, concessionary companies.
“The advice has allowed us to continue strengthening our experience in multi-jurisdictional transactions in the Spain-Latin America axis, in the infrastructure and energy sector, with the intervention of teams from our offices in Madrid and Lima”, says Carlos Lasarte, finance partner who has led both transactions in which Aldo Reggiardo, Alejandro Zorrilla, Mercedes Tulla and Sara Ruiz have participated.