Greenberg Traurig advises the Chilean company oEnergy Holdings SpA in the financing of the construction of 24 photovoltaic power plants

Global law firm Greenberg Traurig, LLP advised oEnergy Holdings SpA in arranging financing estimated at $86.6 million for the construction of 24 photovoltaic projects in Chile.

NEW YORK (PRWEB) March 24, 2022

Global law firm Greenberg Traurig, LLP advised oEnergy Holdings SpA in arranging financing estimated at $86.6 million for the construction of 24 photovoltaic projects in Chile.

oEnergy worked with the Corporación Interamericana para el Financiamiento de Infrastructura (CIFI) to structure the financing. The construction of these photovoltaic power plants, with a total capacity of 72 MWp, will prevent a total emission estimated at 73,344 tonnes of CO2eq per year into the atmosphere, according to the CIFI press release. These projects will be part of a network of small renewable energy generation plants connected for distribution throughout Chile.

“When construction of these 24 plants is complete, they will have a significant impact on Chile’s sustainability efforts and provide renewable energy to many more customers,” said Oscar Stephens, shareholder of Latin America Practice based in New York office of Greenberg Traurig who led the firm’s team in the transaction. “Working in conjunction with our client, oEnergy, and CIFI, it was possible to structure and close a complex financing in just over two months, which is a win-win for all.”

In its press release, the CIFI explained that laws have been adopted in Chile since 2004 to promote the use of renewable energy plants. These PMGDs (pequeños medios de generacion distribuida or small means of distributed generation) occupy a prominent place in the country’s energy sector. Small plants represent 4% of total capacity, with solar photovoltaic plants providing 74% of this capacity.

Other members of the Greenberg Traurig team working on the transaction were tax practice shareholder Erez Tucner, partner Mirae Park and corporate law clerk Sean O’Bryan, all based in the New York office.

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2,400 attorneys at 42 locations in the United States, Europe, Latin America, Asia and the Middle East. The firm, often recognized for its focus on philanthropic giving, innovation, diversity and volunteerism, reported gross revenue of more than $2 billion in fiscal year 2021. The firm is consistently among the top firms in the Am Law 100, Am Law Global 100, NLJ 250, and Law360 (US) 400. In the first Law360 Pulse 2022 rankings, it is one of the top 15 firms. Greenberg Traurig is Mansfield Rule 4.0 Certified Plus by The Diversity Lab and net carbon neutral with respect to office energy consumption. Web: http://www.gtlaw.com.

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Michael J. Birnbaum