Simpson Thacher represented Abengoa, S.A. (“Abengoa”) in its joint venture with EIG Global Energy Partners (“EIG”) for the development of energy projects in Latin America and worldwide. As part of the transaction, the joint venture will acquire a portfolio of select Abengoa projects under construction, including initially renewable and conventional power generation and power transmission assets in Chile, Mexico and Brazil. The contribution of a concentrated solar thermal electric generation facility project and a solar photovoltaic electric generation facility project in Chile to the joint venture was consummated on April 7, 2015, and the contribution of a gas-fired cogeneration facility project and a combined cycle facility project in Mexico and nine transmission lines and eleven substations project Brazil is expected to occur during the second quarter of 2015 once regulatory approvals and other conditions are satisfied. The joint venture will have the right to invest in certain new energy projects developed by Abengoa. The parties have announced that the joint venture is expected to make approximately US$2 billion in total equity investments in these projects.
Abengoa is a Spanish engineering and construction company dedicated to sustainable solutions in the energy sector with a worldwide portfolio, including a strong presence in Latin America. Abengoa is listed in the Madrid Stock Exchange and NASDAQ. EIG is an investment fund, headquartered in Washington, D.C., focused on the global energy sector.
The Simpson Thacher team included David Williams, Juan Francisco Méndez, Ed Chung, Borja Marcos, Eduardo Goldberg, Gustavo Silva and Patrick Vergara (M&A); Devin Heckman (Tax); Krista McManus (Real Estate); Michael Isby (Environmental); and David Rubinsky (ECEB).