Clifford Chance has advised Acciona on a $600 million green and sustainability-linked loan (SLL), structured to fund significant infrastructure projects across Latin America. The loan is designed to support various environmentally-focused initiatives in the region, particularly in Brazil and Peru, and aligns with the EU taxonomy for sustainable activities.
The first tranche of the loan totals $380 million, comprising contributions from several key financial institutions. The International Finance Corporation (IFC) has committed $145 million, while the Dutch development bank FMO has provided $95 million. Additionally, two parallel loans have been secured from the German investment entity DEG, part of the German development bank KfW ($105 million), and from Proparco, which is a part of the French Development Agency group, contributing $130 million.
The loan will finance projects that aim to decarbonize Peru’s energy sector and improve urban mobility in Brazil. Notable projects include the São Paulo metro’s Line 6 and several electricity transmission lines in Peru, which are essential to integrating renewable energy into the grid. These projects are a part of broader regional efforts to drive sustainable development, reduce carbon emissions, and improve access to clean energy.
Clifford Chance’s legal team was led by global financial markets partner Eugenio Fernández-Rico, who was supported by associates María González and Marta Ruiz. Senior counsel Roberto Grau provided advice on tax-related matters. The team’s expertise in structuring complex financial deals was key to ensuring the successful execution of this loan agreement, which will help accelerate the green transition in Latin America’s infrastructure sector.
This loan also demonstrates the growing trend of sustainability-linked financing in emerging markets, with major development banks playing a crucial role in mobilizing capital for climate-related projects. Through this partnership, Acciona continues to build on its commitment to sustainable development in Latin America, contributing to the region’s green transition.
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