Rebaza, Alcázar & De Las Casas advised Celsia S.A. on a US$100 million financing granted by Sumitomo Mitsui Banking Corporation to fund renewable energy projects in Peru.
The transaction had Peruana de Inversiones en Energías Renovables S.A. (PIER) as the initial borrower and was structured under a framework that allows other Celsia group companies to join as borrowers for the development of renewable energy projects in the country, provided such projects meet the eligibility criteria set forth in the transaction documents.
The first disbursement was used to repay existing debt held by PIER with Natixis New York Branch and Banco Sabadell, S.A.
This transaction is part of Celsia’s expansion strategy in the Peruvian market, which contemplates investments exceeding US$1.2 billion for the development of solar and wind projects.
The financing is secured by a security package covering the main assets and rights associated with the renewable energy projects forming part of this portfolio.