Hunton & Williams LLP Advises Mitsubishi Corporation on Latin America Wind Farm Project

Time 3 Minute Read
February 28, 2012

NEW YORK — February 28, 2012 — Hunton & Williams LLP recently represented Mitsubishi Corporation ("Mitsubishi") as project counsel in its acquisition of an approximate 34% equity interest in Mareña Renovables, a circa US$1B 396 MW wind power generation project located on the Isthmus of Tehuantepec region in the state of Oaxaca, Mexico. Mareña Renovables is Latin America’s largest wind farm project. The project will be jointly developed and operated by Mitsubishi and its partners, Macquarie Mexican Infrastructure Fund and pension fund PGGM of The Netherlands. The debt financing for the project is being provided by a syndicate of commercial lenders, including Banorte, BBVA Bancomer, Credit Agricole, HSBC and Santander, and development banks, including Inter-American Development Bank (IDB), Banco Nacional de Obras y Servicios Públicos (Banobras) and Nacional Financiera (Nafinsa), with Eksport Kredit Fonden (EKF), the Danish export credit agency, providing a guarantee for a portion of the construction term loan.

"This is a landmark project for Mexico and the broader Latin American renewable power generation sector. The investment and development by international participants of such a sizeable project reflects a strong commitment to and confidence in renewable energy in Mexico," said Raj Pande, lead lawyer of the Hunton & Williams team. "We are pleased to work with Mitsubishi in its effort to further expand its global renewable energy business."

The Hunton & Williams legal team, led by Pande, includes Michael Madden, Robert Schmicker, and MikiKondo, of New York, and Michael Sievers, of Richmond. Hunton & Williams has a dynamic renewable energy practice with particular experience in wind power. We routinely navigate clients through all aspects of regulatory and environmental permitting issues, construction contracting, operation and maintenance agreements, the negotiation and drafting of power purchase agreements, turbine supply agreements and equipment supply and warranty agreements.

About Hunton & Williams LLP

Hunton & Williams LLP provides legal services to corporations, financial institutions, governments and individuals, as well as to a broad array of other entities. Since our establishment more than 110 years ago, Hunton & Williams has grown to more than 800 lawyers serving clients in 100 countries from 19 offices around the world. While our practice has a strong industry focus on energy, financial services and life sciences, the depth and breadth of our experience extends to more than 100 separate practice areas, including bankruptcy and creditors rights, commercial litigation, corporate transactions and securities law, intellectual property, international and government relations, regulatory law, products liability, and privacy and information management.

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