Under the “Régimen de Incentivo para Grandes Inversiones (“RIGI”), Bruchou & Funes de Rioja advised Generación Eléctrica Argentina Renovable I S.A. Sucursal Dedicada PEO (the “Borrower”), as borrower, Petroquímica Comodoro Rivadavia S.A. (“PCR”) and Generación Eléctrica Argentina Renovable I S.A. (“GEAR I” and together with PCR, the “Guarantors”), as guarantors, on the structuring of a financing for up to US$34,892,790 (the “Loan”). TCA Tanoira Cassagne advised Industrial and Commercial Bank of China (Argentina) S.A.U. (“ICBC”), as lender.
The Loan was executed within the framework of the adherence of the branch Generación Eléctrica Argentina Renovable I S.A. Sucursal Dedicada PEO to the RIGI, through the project known as “Parque Eólico Olavarría” (the “Project”).
The Project consists of the construction of a wind farm with a total capacity of 180 MW, located in the city of Olavarría, Province of Buenos Aires, and the expansion of the electrical energy transmission system.
To ensure the full and timely performance of all obligations undertaken by the Borrower under the Loan and the other transaction documents, the Guarantors have irrevocably and unconditionally guaranteed the payment of all such obligations as primary obligors.
Proceeds from the financing will be used to finance the importation of goods required for the development of the Project.
Legal counsel to the Borrower and the Guarantors: Bruchou & Funes de Rioja through a team led by Partner: José María Bazán; and Associates: Juan María Rosatto and Sebastián Pereyra Pagiari.
In-house legal counsel to PCR: Mariano Juárez Goñi. Florencia Fridman y Marcelo Ra.
Legal counsel to ICBC: TCA Tanoira Cassagne through a team led by Partners: Alexia Rosenthal and Ignacio Criado Diaz; and Associates: Lucía Viboud Aramendi and Juan Manuel Simó.
In-house legal counsel to ICBC: Tomás Eduardo Koch, Sonia Lannutti and Juan Cruz González Groppo.