DLA Piper advises on award-winning power plant project in Peru
Planta de Reserva Fría de Generación de Eten SA, a Peru-based power generation company, has received the Deal of the Year award in the project finance category from International Financial Law Review. DLA Piper advised BTG Pactual as arranger and placement agent of the $132.8m (£79.9m) project bond offering by Eten to finance a 20-year concession to build, develop, operate and maintain a new thermal cold reserve power plant, transmission line and related infrastructure in the Reque district in the province of Chiclayo, Peru.
Last month, the Eten transaction was also recognised as Latin American Project Bond Deal of the Year and Overall Latin American Deal of the Year by Project Finance Magazine.
It is the first international greenfield project bond in Latin America, the first power plant project bond in Latin America and the first international project bond in Latin America with a partial credit guarantee, making it a landmark transaction in the project finance field.
The DLA Piper team that represented BTG Pactual was led by Gianluca Bacchiocchi, a partner in the corporate and finance practice in Chicago, and included Fernando Rodriguez-Marin, Jeffrey Susskind and Diego Harman in New York.
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