Macquarie Capital and Techint Receive Financing for Norte III Power Plant
New York – Paul Hastings LLP, a leading global law firm, announced today that the firm is advising the lenders, led by Sumitomo Mitsui Banking Corporation and Natixis, in connection with Macquarie Capital and Techint’s 907-megawatt power generation project in Mexico, commonly referred to as Norte III.
The equity and the assets of the project were acquired from affiliates of Abengoa S.A. and involved the concurrent restructuring of the project company’s bridge debt and the close of the long-term financing. The financing closed on August 31, 2017, and the plant, located in Ciudad Juárez, Mexico, is expected to be completed in 2019. Once completed, Norte III will sell capacity and energy to Mexico’s Comisión Federal de Electricidad (CFE) under the last of the “classic” CFE power purchase agreements.
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