GBM Infraestructura and Goldman Sachs Infrastructure Partners Complete Tres Mesas Wind Complex AcquisitionApril 2015
S&C clients GBM Infraestructura and Goldman Sachs Infrastructure Partners completed their purchase of all of the equity interest of Oak Creek, a Marubeni subsidiary, in the Tres Mesas wind project under development in Mexico.
The 148.5MW Tres Mesas project entails the construction, ownership and operation of the 62.7MW Tres Mesas I project, and the 85.5MW Tres Mesas II project. Both projects have signed power purchase agreements with two Mexican corporates. Oak Creek will continue to manage the project following the transaction.
The equity buyout and debt financing for the project included various loan facilities provided by the Overseas Private Investment Corporation (OPIC) and the North American Development Bank. The financing is the first time that OPIC has issued so-called green bonds to support a Mexican renewable energy asset and is the first time it has provided a loan denominated in Mexican pesos.
Christopher Mann advised GBM Infraestructura and Goldman Sachs Infrastructure Partners on the transaction.