Latham & Watkins Advised GIP in $441 Million Renewable Energy Partnership Boost with AES Andes

Latham & Watkins Advised GIP in $441 Million Renewable Energy Partnership Boost with AES Andes

Global law firm Latham & Watkins has once again demonstrated its deep expertise in the renewable energy sector, successfully guiding Global Infrastructure Partners (GIP) through a $441 million expansion of its joint venture with AES Andes in Chile.

The new portfolio boasts diverse investments, including the Bolero Solar and Andes Solar IV projects, the San Matías Wind Farm, and an additional battery system for Andes Solar IIa. Notably, AES Andes received an initial $333 million disbursement in December 2023, with GIP's remaining investment contingent on agreed-upon conditions and the commercial operation of projects under construction.

GIP has secured a strategic 49 per cent stake in the entities developing the new projects, mirroring the ownership structure established in the 2021 partnership. AES Andes, meanwhile, retains a 51 per cent stake, further solidifying their commitment to this burgeoning collaboration.

Latham & Watkins, building on its success in advising GIP on the initial partnership formed in 2021, played a crucial role in structuring and negotiating this complex transaction. The firm's team, led by partners Tony Del Pino and Carlos Ardila, counsel Eric Merrill, and associate Costanza Garcia, expertly navigated the legal intricacies to ensure a seamless and efficient deal closure.