Reden Development Chile has secured an $80 million credit facility from Natixis to develop a solar power portfolio in the country, with PMGD characteristics for a combined capacity, once fully constructed and operational.
The solar portfolio has an accumulated generation capacity of approximately 100MW.
Reden Development Chile is the local subsidiary of French company Reden. Founded in 2008, it is an independent renewable power producer focused on the development, construction and operation of photovoltaic solar plants in France and internationally.
Natixis is a French multinational financial services firm specialized in asset and wealth management, corporate and investment banking, and insurance and payments.
Chilean law firm Larrain y Asociados acted as counsel to Reden Development Chile in all aspects of the financing process.
Larrain’s team was led by partner Cristóbal Morandé, with associates Diego Garay, Michelle Inzunza and Teresita Vinagre.
The company was advised in the US by law firm Clifford Chance.
Natixis was advised in Chile by Garrigues, and in New York by Milbank.