26.06.2017 News

Oppenhoff & Partner advises on Chilean 98 MWp solar park project

Oppenhoff & Partner’s Latin America Desk has advised the project developer AustrianSolar Chile SpA in connection with the project “Huatacondo”, a 98 MW solar park in northern Chile. Specifically, Oppenhoff & Partner drafted the contracts for engineering, procurement and construction (EPC) and operation as well as maintenance (O&M) of the solar park and also provided advice to the client over many months of negotiations with the contractor, sponsors and lenders.

The project’s sponsor is a Japanese consortium led by Sojitz Corporation, one of the largest trade houses in Japan, globally engaged in a wide range of businesses; Contractor is the French Eiffage Group, one of the largest European engineering and construction companies.

The project is of significant importance for the power generation in northern Chile and forms part of the continuous boom in the expansion of renewable energies in Chile. Chile has established the goal to diversify its energy-mix, setting a renewable energy target of 70% for 2050. This successful closing will provide AustrianSolar with extensive opportunities to realise further portfolio projects.

AustrianSolar is a globally active and independent developer of industry-scale photovoltaic power plants. The company identifies greenfield projects as well as early stage development projects and completes the development process to ready-to-build status.

Oppenhoff & Partner advised AustrianSolar Chile SpA on this project with a team comprising the Chilean attorney Edder Cifuentes (Chilean law, infrastructure, energy, project development and project finance), Alf Baars (corporate law/M&A), Peter Etzbach and Christof Gaudig (both insurance law). On regulatory issues the team was assisted by the Chilean law firm of Bofill Mir & Álvarez Jana Abogados (partners Octavio Bofill and Guillermo de la Jara).

Oppenhoff & Partner stands for over 100 years of top-quality legal advice. Our independent law firm extensively advises national and international enterprises and entrepreneurs on matters of commercial and tax law. Our Latin America Desk advises developers, contractors and operators of power projects as well as suppliers and investors in the power sector in their undertakings in South America. A particular focus is the area of investments in renewable energies (in particular solar and wind power) in Chile.

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