DLA Piper advised Belgian Investment Company for Developing Countries SA/NV and EDFI Management Company SA on the negotiation and execution of a US$10.7 million loan agreement with Nordic Solar, governed by New York law, for the construction of a 14MW solar PV plant in Nicaragua.
Nordic Solar is a Special Purpose Vehicle (SPV) set up for the San Isidro project, which will improve the availability of electricity and increase the reliability of the permanent electricity supply, especially during the dry season when hydropower provides less electricity. The project will contribute to the supply of clean, sustainable, and affordable electricity, producing over 33GWh of clean energy annually, equivalent to the electricity used by 58,000 people.
The cross-border DLA Piper team included partner Margarita Oliva Sainz de Aja (New York) and associates Ruben Fernandez Agramonte (Puerto Rico) and Daiana Suk (New York Law Desk, Buenos Aires).