DLA Piper Chile advises Blue Elephant Energy GmbH on the acquisition of a 120 MW solar project portfolio

DLA Piper Chile advised Blue Elephant Energy GmbH, a private equity fund focused on energy transition investments, directly and through a joint venture entity with Chilean developer oEnergy Capital, in the acquisition of a 120 MW solar project portfolio, consisting of 20 PMGD and PMG photovoltaic projects, most of them in operation and others close to operation, located in Coquimbo, Valparaíso, Metropolitana, O’Higgins, Maule, and Ñuble regions. 

The advice included several lines of work, such as corporate and tax structuring, legal due diligence of the holding companies and of the 20 SPVs owning the rights and assets of 20 projects that constitute the portfolio, including corporate, real estate, environmental and electrical permits, mining rights, litigation, financing, construction, and operation contracts.

The legal team in charge of this transaction was led by partner Diego Peña. Other members participating were partners Mauricio Halpern and Amory Heine, counsel Bernardita Doren, and associates Roberta Andreani, María Isabel Izquierdo, Eduardo Araya, Francisco Argüello, María José Morales, Pablo González, Camila Fajardo, Teresita González, Jacinta Irarrázabal, Cristóbal de la Maza, and Jerónimo Zabala.

Peña commented: “We are proud to have participated in a transaction of this complexity, which involved the collaboration and effort of several work teams for both parties, not only in Chile, but also in Germany, Spain, the United States, and China. This transaction once again confirms DLA Piper’s ability to deploy local and global resources, regardless of the scale of the transaction, also managing to identify experience in essentially dynamic sectors such as energy.” 

DLA Piper is a global firm with nearly 5,000 professionals in more than 45 countries in the Americas, Europe, the Middle East, Africa, and Asia Pacific. In Chile, it has 50 professionals in different practice areas. DLA Piper’s extensive experience in key areas of commercial law, as well as its globally integrated platform, allows them to provide customized advice to clients’ specific needs with promptness and precision, considering the knowledge of local business models and culture.