Sunpower Gets Funding For Solar Plant In Chile
The New York office of White & Case LLP and Chilean firm Carey have helped SunPower agree US$222 million worth of financing for a solar plant in northern Chile.
Chadbourne & Parke LLP's New York office and Chile's Morales & Besa advised a syndicate of banks including Crédit Agricole, the Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation and Korea Development Bank. They agreed to a long-term loan worth US$200 million. Banco de Crédito de Inversiones (BCI) funded the project's value added tax with a US$22 million loan.
BCI also entered a credit agreement with the solar plant's owner, Total SunPower El Pelícano, under which it issued bank guarantees for the project.
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