Colombia
Cuatrecasas advises IDB Invest and Bancolombia on granting long-term loan for COP 473.77 billion
December 19, 2024
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SubscribeCuatrecasas has advised IDB Invest and Bancolombia on granting a long-term loan worth COP 473.77 billion to a trust vehicle made up of Atlas Renewable Energy Colombia (“Atlas”) and Isagen S.A. E.S.P. (“Isagen”) for the construction and operation of 201 MWp solar power project Shangri-La in Tolima, Colombia. The photovoltaic project is one of the largest in terms of generation capacity in Colombia.
Shangri-La launches the partnership between Atlas and Isagen to diversify Colombia's energy matrix through the injection of over 1,000 MW of energy from renewable resources. The project is a vital step for the country's energy transition, reducing greenhouse gas emissions and decreasing dependency on hydroelectric power and fossil fuels.
It is estimated that the new plant will generate approximately 403.7 GWh of clean energy a year, which is equivalent to supplying around 214,000 homes and preventing the emission of 162,000 tonnes of CO2.
The Cuatrecasas advisory team was led by Juan Carlos Puentes, together with Angie Gómez, Lorenzo Lizarralde, Juanita Calderón and Verónica Hernández. In addition, Carlos Lasarte, Ramiro Guisasola, Juan José Ruiz and Sara Ruid advised the financing group from a Spanish law point of view.
December 19, 2024
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