DLA Piper advised Innergex Renewable Energy in its US$803.1 million refinancing…

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DLA Piper advised Innergex Renewable Energy in its US$803.1 million refinancing, named by Project Finance International as “2022 Americas Power Deal of the Year”

DLA Piper is proud to announce that it advised Innergex Renewable Energy Inc. in the US$803.1 million refinancing of its portfolio of assets in Chile – a deal recognized by Project Finance International as “2022 Americas Power Deal of the Year.”

The transaction was structured as a private placement to institutional investors of a US$710 million green bond by its indirect wholly owned subsidiary Aela Generación S.A and a related US$93.1 million letter of credit facility. The proceeds were used principally to refinance existing debt of a portfolio of wind, solar, and hydro assets wholly owned by Innergex, including debt assumed in connection with its May 2022 acquisition of three Aela wind farms (332 MW). Also included in the portfolio of refinanced assets are two solar farms (118.6 MW), three hydro facilities (158 MW), and a battery energy storage system currently under construction.

The DLA cross border team that advised Innergex included partners Mauricio Halpern and Marco Salgado in Chile and Margarita Oliva Sainz de Aja and Chris Paci in NY– representing the strength of DLA’s combined teams in Latin America and the US.

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