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Saturday, December 3, 2022
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MAIO Legal advises COFIDES on €130m investment in the Colombian electricity grid

MAIO Legal has advised COFIDES (Compañía Española de Financiación del Desarrollo) on its €130 million investment in Energía de Colombia STR SAS ESP

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Energía de Colombia STR SAS ESP is developing a project consisting of the design, supply, construction, operation and maintenance of the works associated with the Termoflores, Las Flores, Centro, El Río, Oasis, Magdalena, Unión, Tebsa and Estadio substations, as well as the construction of 23 kilometres of underground transmission lines at 110kv voltage levels, located in Barranquilla (Colombia). The project is led by Ortiz Construcciones y Proyectos SA.

COFIDES is a state-owned trading company. It provides medium and long-term financing for viable private investment projects that, based on profitability criteria, contribute both to the development of the host countries and the internationalization of the economy and of Spanish companies. To fulfil this dual-purpose, COFIDES uses its own resources to finance investment projects in emerging or developing countries and manages the following funds on behalf of the State (Secretariat of State for Trade, attached to the Ministry of Industry, Trade and Tourism): FIEX and FONPYME.

COFIDES also supports the Spanish Agency for International Development Cooperation (Agencia Española de Cooperación Internacional para el Desarrollo-AECID) in managing Development Promotion Fund (FONPRODE – Fondo para la Promoción del Desarrollo), manages the combined financing of the European Union and mobilizes resources from the United Nations Green Climate Fund.

The MAIO Legal team advising COFIDES was led by partners Oriol Prósper and César Álvarez, along with lawyers Antonio Vidal and Paula Rico.

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