Cadonal, an affiliate of Spanish engineering group Abengoa, has obtained finance worth US$ 90 million to build a 50-megawatt wind farm in southern Uruguay with help from Shearman & Sterling LLP in New York and Guyer & Regules in Uruguay.
Clifford Chance LLP in Washington, DC, FERRERE and Watson, Farley & Williams LLP in Madrid helped development banks Corporación Andina de Fomento (CAF) and DNB Group Agencia en Chile provide the credit line. A seperate team from Guyer & Regules counselled Citibank as security agent.
Cadonal will use the finance to construct a wind farm 20 kilometres south of the capital of the department of Flores, Trinidad.
The deal closed on 22 September.
Abengoa secured finance for another 50-megawatt wind farm last year with help from the same law firms. FERRERE and Clifford Chance advised Inter-American Development Bank and Export-Import Bank of the United States for that deal, which helped fund the construction of 34 kilometres of transmission line.