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Thursday, February 22, 2024

C&L advises ibVOGT on investment restructuring for solar mega project in the Caribbean

Cases & Lacambra has advised Germany´s ibVOGT on the restructuring of its investment in the developing and construction of the Bani Solar project, one of the largest in Latin America

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This mega project, one of the largest in Latin America, will have a power capacity of 200 MWs, making it extremely relevant insofar as it marks a milestone in the generation of electricity from renewable sources in the Central-American Caribbean Region.  Baní Solar is currently the largest solar facility approved in the Dominican Republic.

It will be built by EDP, whose shareholder and partner is the German solar energy developer ib vogt GmbH.

The National Energy Commission (CNE) of the Dominican Republic and EDP Energías Renovables Dominicana, the local branch of the US-based Energy Development Partners (EDP), signed the final concession contract for the installation of the Baní Solar project last year, which will operate in the community of Galeón, in the municipality of Baní, Peravia Allegre province. The Baní Solar project will have a nominal generation capacity of 160 MW and a peak production of 200.2 MWp.

Cases & Lacambra advised ibVOGT on the restructuring of the project from a Tax and Corporate perspective (including the negotiation of a complex shareholders’ agreement), with Corporate & M&A partner, Pablo Echenique Conde, together with the participation of Tax partner David Navarro and several associates.

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