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SubscribeCuatrecasas has advised the Financiera de Desarrollo Nacional (“FDN”), a Grupo Bicentenario entity, on the closing of COP 37.481 billion in financing granted to Verano Energy for the development, construction, and operation of the Chicalá Solar Plant, a photovoltaic solar energy project located in Sabanalarga, Atlántico.
The park will have an installed capacity of 13 MWp and is expected to generate approximately 25.9 Gwh of energy per year, as it is in strategic area of high solar irradiation, close to existing electrical infrastructure. Chicalá is Verano Energy’s first solar plant in Colombia and forms part of its expansion strategy in Latin America.
Manuel Quinche, managing partner of the Cuatrecasas Bogotá office, commented on the transaction: “We congratulate Verano Energy for choosing Colombia as part of its strategy to expand its portfolio of renewable projects in the region, and FDN for continuing to support these energy transition projects that Colombia needs, this time acting as a long-term strategic partner under a project finance structure. This is suited to the project’s development timeline while contributing to a cleaner energy mix for the country.”
The Cuatrecasas advisory team was led by Manuel Quinche, with the collaboration of lawyers Angie Gómez, Pablo Amorocho, and Luisa Penagos (Finance); and Manuel Gómez, Carlos Méndez, and Emilio Torres (Energy).
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