DLA Piper advises Innergex on GBP506 million renewable energy acquisition

DLA Piper represented Innergex Renewable Energy Inc. on its agreement to acquire Aela Generación S.A. and Aela Energía SpA, a 332 MW portfolio of three newly built operating wind assets in Chile, for a purchase price of GBP506 million.

The portfolio consists of the Sarco wind farm (170 MW), the Aurora wind farm (129 MW) and the Cuel wind farm (33 MW). Revenues from these facilities are anchored by two forms of power purchase agreements (PPAs) with 25 Chilean distribution companies, maturing at the end of 2036 and 2041.

The cross-border DLA Piper team advising Innergex was led by partner and Global Chair, Infrastructure, Construction and Transport sector Martin Nelson-Jones in London and partners Marco Salgado (Corporate) and Mauricio Halpern (Banking & Finance) in Chile.

DLA Piper's Energy sector lawyers advise regulators, the regulated, investors and other industry participants on the implications of the regulatory framework during the planning, development and operational stages of many energy assets and transactions. For decades, the firm has represented organisations operating in the sector throughout the world, with a global team serving clients in the power, oil and gas, renewable, nuclear, energy trading, climate change and water markets. In addition to energy companies, the firm’s clients also include project sponsors, corporations, developers, financial institutions, governments, utilities and regulatory bodies.