Thought Leaders

Andrews Kurth Kenyon Represents IIC, FMO and C2F in $78 Million Loan to HIDRONORMANDIA S.A.

January 31, 2017
Washington, DC

On January 13, 2017, Inter-American Investment Corporation (“IIC”), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (“FMO”), as senior lenders, and Canadian Climate Fund For The Private Sector In The Americas (“C2F”, as a subordinated lender, and together with IIC and FMO, the “Lenders”), closed on a US$78 million secured loan facility to Hidronormandia S.A. (“Hidronormandia”).

The proceeds of the facility will be used by Hidronormandia to finance the design, development, financing, construction, ownership, operation, and maintenance of a run-of-the-river hydroelectric power plant named “Normandía” on the Upano river, with an estimated capacity of up to 49.60MW located about 20km from the City of Macas, Province of Morona-Santiago in southeastern Ecuador.

The US based firm of Andrews Kurth Kenyon LLP advised the Lenders as international counsel. Local legal advice was provided by Pérez Bustamante & Ponce.

Andrews Kurth Kenyon Lawyers

Vera Rechsteiner, Partner

Eric Markus, Partner

Siddharth Sethy, Associate

IIC In-house Counsel

Patricia Alves de Toledo

FMO In-House Counsel

Simon Voorhoeve

C2F In-House Counsel

Patricia Alves de Toledo

Katherine Scheider Hallahan

Pérez Bustamante & Ponce Lawyers

Bruno Pineda, Partner

Natalia Almeida, Senior Associate

Hidronormandia’s US Counsel

Steptoe and Johnson LLP

Hidronormandia’s Ecuadorian Counsel

Cabezas, Wray & Alban

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