Pellerano Nadal Represents Lenders in the Largest Renewable Energy Financing in the Caribbean

December 1, 2023

Partner, Marielle Garrigó and Senior Associate, Eduardo Pellerano, acted as local counsel to IDB Invest, Banco Latinoamericano de Comercio Exterior S.A. (Bladex), JP Morgan Chase Bank N.A. and The Bank of Nova Scotia (Scotiabank), as joint lead arrangers and bookrunners of a loan package of approximately US$368 million to AES Dominicana Renewable Energy S.A. (ADRE), a subsidiary of The AES Corporation in the Dominican Republic.

The financing package included over 22 lenders, and the proceeds will be used to finance the design, construction and operation of three (3) new non-conventional renewable energy (NCRE) projects totaling 240MW of installed capacity, and to refinance the short-term debt of three (3) additional renewable energy projects totaling 150MW of installed capacity.

To learn more about the transaction, visit IDB Invest’s press release here.