Cuatrecasas has advised Bancolombia and Corporación Interamericana de Inversiones (CII)—acting in its own name, as agent on behalf of Banco Interamericano de Desarrollo and as sub-implementing entity of the trust fund for the Clean Technology Fund—on granting a syndicated credit to Bosques Solares de Los Llanos 1, 2, and 3, owned by Matrix Renewables Colombia. This financing is for operating and maintaining three solar plants with a capacity of 81.6 MWp, located in Puerto Gaitán, Meta.
The transaction is the first long-term financing for operational solar energy projects in Colombia. Also, Bosques Solares de Los Llanos 1, 2 and 3 represent the largest portfolio of operational photovoltaic projects in Colombia.
The development of these projects will lead to the production of clean energy, contributing to the diversification of Colombia’s energy matrix, and generating approximately 500 jobs that will mainly be covered by local workers.
The Cuatrecasas multidisciplinary team handling the matter was led by Manuel Quinche, Natalia Arango, Juan Carlos Puentes, Sofía Esguerra and Laura Salazar, with the collaboration of Lorenzo Lizarralde, Gabriela Forero, Manuel Franco, Alessia Abello, Camilo Cardona, Fabio Ardila, Andrés Herrera, Natalia Serrano, Juan Camilo Rangel and José Manuel Castillo.