Source: Latin Lawyer
Two Allen & Overy LLP offices and Posadas in Montevideo have helped UK investor Cubico Sustainable Investments purchase several wind and solar plants in Uruguay from the renewable energy branch of Canada’s Brookfield.
Brookfield Renewable Partners relied on three White & Case LLP offices and Ferrere (Uruguay).
The deal was announced on 27 September with no value disclosed.
In the transaction, Cubico obtained the Carape I and Carape II wind farms in the southern Uruguayan province of Maldonado. The wind assets have a combined capacity of 94 megawatts. It also acquired the Alto Cielo solar energy plant in the northern department of Artigas, which has a capacity of 26 megawatts.
Founded in 2015, Cubico Sustainable Investments invests in renewable assets across Central America, Latin America and Europe. The company has been actively expanding its renewables portfolio this year, having acquired a solar energy complex from Brazilian power group ZEG Energias Renováveis in January.
Brookfield Renewable boasts one of the world’s largest publicly traded platforms for renewable energy and decarbonization solutions. Its portfolio spans five continents and comprises hydroelectric, wind, solar, distributed energy and sustainable solutions.
Its parent company Brookfield Asset Management is active in the Latin American market too. For example, in September, it sold one of its warehouse facilities in Brazil’s municipality of Guaralhos to refrigeration services provider Emergent Cold through its affiliate SKM.
Counsel to Cubico Sustainable Investments
Allen & Overy LLP
Partner Simon Clark in New York; associate Moritz Meister in Los Angeles
Posadas
Partners María Elena de Posadas, Tomás Gurméndez and Victoria Garabato, and associates Marina Jimenez de Arechaga, Jose María Tais, Florencia Curbelo, Ramiro Arcaus in Montevideo
Counsel to Brookfield Renewable Partners
White & Case LLP
Partners Oliver Brahmst, Adam Cieply, Thomas Pate and Scott Fryman, and associates Morgan Somerset and Eric Thornton in New York; counsel Michael Rodgers in Houston; partner Ignacia Paz and associates Esther Gabilondo and Lucia Quiroga in Madrid
Ferrere (Uruguay)
Partner Manuel Lecuona, counsel Alejandro Alterwain and associates Enrique Slekis, Lucia Lingeri and Ignacio Uria in Montevideo.