BTG Pactual Chile commits to electromobility with two investments in electric transport for mining

Cuatrecasas has advised Transición Energética SpA—owned by a fund of BTG Pactual Chile SA AGF—on two structuring and purchase transactions to supply various mining companies with electric buses and charging infrastructure.

This is the first transaction of its type that BTG has conducted through its fund manager, which promotes and contributes to the use and development of, and the investment in, renewable energy and energy efficiency. This will boost the use and application of clean technologies in all productive activities, diversify the primary energy sources and address the value chain of electromobility in mining.

Transición Energética obtained its financing through a syndicated loan, granted by banks and nonbanks, to acquire the proposed transaction of electric buses owned by Enel X at different Codelco and Compañía Minera del Pacífico mine sites, and also for the VAT payment.

The transactions were structured around the assignment of contractual rights and loans by Enel X and the bus operators to Transición Energética to ensure that the SPV received the cash flow directly from the mining company, thus eliminating the operator risk.

The advisory team was made up of our lawyers Macarena Ravinet and Franco Dalmazzo who participated in both transactions, in addition to Isidora Opazo and Magdalena Urquidi in the first, and Vladiana Alarcón in the second.