Spain
Peru
Cuatrecasas advises three leading banks on financing power transmission projects in Peru for Acciona group
January 29, 2025
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SubscribeCuatrecasas has advised Santander, CaixaBank, and BBVA on two significant financing transactions for concessionaire companies of the Acciona group, to build power transmission lines in Peru.
First, we advised Santander and CaixaBank on financing Transmisora Hub Poroma S.A.C., to build and implement 386 km of transmission lines, six new substations, and to expand another six existing substations.
Second, we advised BBVA on a financing agreement with Transmisora Reque Tumbes S.A.C., and Transmisora Ica - Poroma S.A.C., to build and implement several power transmission projects in Peru including (i) Proyecto LT Reque-Nueva Carhuaquero, (ii) SE + LT Tumbes - Nueva Tumbes, (iii) LT Ica-Poroma, and (iv) ITC Cáclic-Jaén Norte.
Both financings will enable the Acciona group to pursue projects of high strategic value in Peru. This will benefit millions of residents in the north and south of the region and facilitate access to a significant number of GW of renewable energy.
The transactions were subject to Spanish law with a strong component of Peruvian law regarding the underlying assets and the existence of Peruvian accredited concessionaires.
Carlos Lasarte, our Finance partner said: “Advising on these transactions with the involvement of our Lima and Madrid offices, enabled us to continue strengthening our experience in multijurisdictional transactions in Spain and Latin America, as well as in the energy and infrastructure sector.” Lasarte led both transactions alongside Aldo Reggiardo, Alejandro Zorrilla, Mercedes Tulla and Sara Ruiz.
January 29, 2025
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