Akin Gump represented Emerald Solar Energy S.R.L. in a $37 million secured project financing facility from Fondo de Inversión Cerrado Libre para el Desarrollo de Infraestructuras Dominicanas I, managed by Administradora de Fondos de Inversión Universal, S.A.
The proceeds of the loan will be used by Emerald mainly to refinance certain existing debt and finance the operation of a 25.0 MW photovoltaic power plant located in Barahona in the Dominican Republic Project. CIFI Latam, S.A. acted as the mandated lead arranger.
Global project finance partner Jeremy Schwer led the team advising Emerald Solar. He was joined by global project finance practice co-head Dan Sinaiko and associate Nicole Scott.