Desarrollos Eólicos Mexicanos and Desarrollos Eólicos Mexicanos de Oaxaca 2 obtain project financing for wind energy plant in Mexico
Clients Desarrollos Eolicos Mexicanos, S.A. de C.V.
Jones Day represented Desarrollos Eólicos Mexicanos, S.A. de C.V. and Desarrollos Eólicos Mexicanos de Oaxaca 2, S.A.P.I. de C.V. ("Demex 2") in connection with a $25 million equity bridge financing with Deutsche Investitions-und Entwicklungsgesellschaft (“DEG”) for the development of a 137 MW wind energy plant in Oaxaca, Mexico.
DEG will contribute 20% of the initial capital required for the project in exchange for an 20% equity interest in Demex 2. The structure contemplates that Renovalia will maintain control of the development and administration of the project, and includes an option for Renovalia to repurchase all shares acquired by DEG.