Cuatrecasas has provided legal counsel to Banco Santander, CaixaBank, and BBVA on two major financing transactions involving concessionaire companies of the Acciona group. These transactions are aimed at financing the construction of power transmission lines in Peru.
The first deal involved Santander and CaixaBank, who provided financing for Concesionaria Transmisora Hub Poroma. The project will see the development of 386 kilometers of transmission lines, the construction of six new substations, and the expansion of six existing substations.
In a separate transaction, Cuatrecasas advised BBVA on its financing agreement with Concesionaria Transmisora Reque Tumbes and Concesionaria Transmisora Ica-Poroma. This deal focuses on the construction and commissioning of multiple transmission projects in Peru, including the LT Reque-N. Carhuaquero, SE + LT Tumbes-Nueva Tumbes, LT Ica-Poroma, and ITC Cáclic-Jaén Norte.
Both financing agreements are set to empower the Acciona Group in executing strategic projects that will benefit millions of residents in northern and southern Peru, while also facilitating the deployment of significant renewable energy capacity.
The transactions, governed by Spanish law with a strong component of Peruvian law due to the involvement of local concessionary companies and assets, reflect Cuatrecasas’ growing expertise in multi-jurisdictional transactions, particularly in the infrastructure and energy sectors.
Carlos Lasarte, finance partner at Cuatrecasas, highlighted the firm’s expanding role in cross-border deals within the Spain-Latin America corridor. He noted that the projects were overseen by teams from the firm’s offices in Madrid and Lima, with contributions from Aldo Reggiardo, Alejandro Zorrilla, Mercedes Tulla, and Sara Ruiz.
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