Invenergy Group $165 million acquisition of Campo Palomas 70MW wind farm

Overview:

• Invenergy Group has acquired the 70MW Campo Palomas wind farm for $165 million.
• The deal saw the US wind energy group acquire Abengoa subsidiary Nicefield, which owns the wind farm located in Uruguay's Salto region.
• As part of the acquisition, Invenergy took out $135 million in long-term financing from the Inter-American Investment Corporation and the Inter-American Development Bank.
• The deal also included the cancellation of a bridge loan that was previously provided to Nicefield by the DNB Group Agency in Chile.
• Invenergy simultaneously entered into a share purchase agreement with Abengoa subsidiary Giomper.
• TMF Trust Uruguay acted as onshore collateral agent and Citibank Uruguay acted as onshore accounts bank.
• Abengoa was represented by in-house counsel.

Kurt Stumpo - Journalist