Tauil & Chequer Advogados advises on structuring BNDES' largest US dollar-indexed loan to date for a renewable energy project

Tauil & Chequer Advogados in association with Mayer Brown played a pivotal role in advising banks Itaú Unibanco., BTG Pactual, Bradesco, Santander, and Credit Agricole, as guarantors, in structuring Brazilian Development Bank (BNDES)'s largest US dollar-indexed loan to date for a renewable energy project, totaling USD 447.8 million. This transaction aimed to finance the development and implementation of the "Vista Alegre Complex" by Atlas Renewable Energy, the largest independently owned renewables IPP (Independent Power Producer) in Latin America, and involved the issuance of bank guarantee letters by the aforementioned banks.

Vista Alegre stands as one of the largest solar complexes in Latin America built in a single phase. Situated in the City of Janaúba, State of Minas Gerais, Brazil, the complex comprises 18 photovoltaic power plants with a combined installed capacity of 768 MW. Additionally, the project includes a comprehensive connection system consisting of a 500kV collection substation and a 500kV transmission line spanning approximately 22km. Furthermore, the PPA associated with the Vista Alegre Project, signed by Albras, is one of the largest PPAs in Latin America dedicated to a single client, with a duration of 21 years, and has the potential to provide energy to over 3 million people.

The team was led by counsel Anna Gouvea and partner Eduardo Lima, and included associates Beatriz Lavigne and Paulo Hirata, all from the firm’s Banking & Finance team.