Global law firm White & Case advised Atlas Renewable Energy, an international renewable power company, on the development and financing of its first battery storage project.
The White & Case team worked on a number of aspects of the project, including having helped develop novel equipment supply, construction, operation and maintenance arrangements. The financing package for the project comprised bridge financing and long-term loan and other credit facilities for an aggregate principal of approximately $289 million, provided by BNP Paribas and Crédit Agricole Corporate and Investment Bank.
“We are delighted to have helped our long-standing client on this important transaction,” Thomas Pate, partner of White & Case and who led the firm’s project financing for the matter, said. “Once complete, the project is expected to support Chile’s energy matrix and alleviate some of the pressures on the country’s transmission system.”
“We are thrilled to have had the unique opportunity to develop some of Chile’s first large scale battery supply and maintenance agreements and have subsequently gained important insights for the Chilean and wider Latin American market as a result,” Raffaele Turco, partner of White & Case and who led the firm’s project development work, said.
The White & Case team was led by project development and finance partners Thomas Pate and Raffaele Turco and capital markets partner Ian Cuillerier (all in New York). The team also included project development and finance associates Jessica Webb, Helena Buitrago (both in New York), Mae Espinosa, Ana Arias (both in Miami) and Adrian Leal (Houston); and capital markets associate Zhou Bo Chen (New York). Law clerk Clarissa Lotson also assisted on the matter.
