December.10.2019
Orrick advised CVE, an independent power producer, on the $86.75 million first lien project financing from Natixis for the acquisition, construction and development of a portfolio of eighteen solar photovoltaic projects in Chile. Over the last five years, CVE has opened subsidiaries in Chile and North America. This continued expansion aligns with CVE’s mission to provide sustainable solutions for the energy and environmental needs of businesses and communities using a direct energy sales model.
This cross-border deal was particularly complex due to the foreign lien process for collateral located in Chile and the incorporation of a VAT credit facility from Banco Security.
Our team was led by Bill Haft and included Kelsi Cronkhite, Ramon Galvan, Nik Mathews and relationship partner Nick George.