Colombia
Cuatrecasas advises Ashmore on investing in Bioena, wood pellet producer and distributor
March 27, 2024
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SubscribeCuatrecasas has advised the Ashmore Group PLC on acquiring a controlling interest in Bioena S.A.S. This transaction marks a milestone as Ashmore joins Bioena to install the first wood pellet plant in Colombia. The product will be exported to Europe for use in renewable energy production.
The project focuses on sustainable development and carbon-emission reduction as the pellets will provide an alternative source of solid fuel used in power plants, replacing coal as the primary fuel source.
By doing so, Ashmore reaffirms its commitment to sustainable projects and energy transition. In addition, the plant will create jobs and promote socio-economic development in the municipality of Algarrobo (Magdalena).
Cuatrecasas has also advised Bioena on procurement contract negotiation for the project, including the BOS contract, wood supply contracts and pellet marketing contracts.
The firm’s advisory team was led by partner Felipe Mariño and lawyers Natalia Villamizar, Juan Camilo Rangel and Alejandro Cepeda (Corporate and M&A), with the support of partner Ana María Sánchez and lawyer Nicolás López (Infrastructure).
March 27, 2024
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