Holland & Knight Advises on Financing of Mexican Solar Park

MEXICO CITY (August 27, 2015) – Holland & Knight represented Buenavista Renewables (BVR) in the financing of the first utility-scale solar park in Mexico through a self-supply scheme with private off-takers. On Aug. 24, the North American Development Bank, Overseas Private Investment Corporation and Buenavista Renewables entered into a $31 million financing for construction of the Los Santos Solar I Park. The 13.6 MWAC photovoltaic solar park is located in Ahumada, Chihuahua.

The solar plant will supply renewable energy to the northern district of the private educational group, La Salle in Mexico, and to the German cable company, Leoni, S.A. de C.V., through a long-term power purchase agreement. The project will be built by construction and engineering firm IMASA Ingeniería y Proyectos México and Unisun Energy Americas will provide project management services.

"We are proud of being able to assist Buenavista in all stages of the project, as several changes on laws and regulations have taken place," said Alejandro Landa Thierry.

The Holland & Knight team was led by Mexico-based Partners Alejandro Landa Thierry and Jose Antonio Prado and Senior Counsel Carlos Ochoa. They received assistance from Associates Adrian Cabrero and Aldo González. New York-based Partners Stephen Humes, Norberto Quintana and Marc Reisler were also instrumental in the deal.