Zelestra relied on Uría Menéndez in Madrid, three Philippi Prietocarrizosa Ferrero DU & Uría offices and Rodrigo in Lima for the deal.
The deal was signed on 5 December for a confidential amount. Its closing is subject to customary closing conditions, including clearance from competition authorities in Colombia and Peru.
Through the transaction, Promigas will acquire 100% of the shares of Zelestra and its subsidiaries in Colombia, Chile and Peru through the deal.
The acquisition hands the buyer a portfolio of projects with a total capacity of approximately 1.4 gigawatts, alongside a pipeline of projects under development exceeding 2.1 gigawatts.
The acquisition adds to a wave of renewable energy transactions across the region. In October, a subsidiary of Chilean energy group AES Andes secured a US$562 million project financing to develop the Pampas renewable energy complex in northern Chile.
Counsel to Zelestra
Uría Menéndez
Partner Tomás Acosta and associates Cesar Farrapeira, Carla Alonso and Ghizlane Laaoue in Madrid
Philippi Prietocarrizosa Ferrero DU & Uría (Colombia)
Partners Nicolás Tirado, Diego Cardona and Carolina Rozo and associates Laura Grisales, Fabio Palacios, Leonardo Cote and Natalia Guerrero in Bogotá.
Philippi Prietocarrizosa Ferrero DU & Uría (Peru)
Partner Rafael Puiggros, Milagros Pastor and Verónica Vergaray and associates Luciana Carpio-Rivero, Daniella Ginocchio, Alexa Adriazola and Ximena Del Rosario in Lima.
Philippi Prietocarrizosa Ferrero DU & Uría (Chile)
Partner Juan Pablo Whilhelmy, director Guillermo Infante and associate Martín Cruzat in Santiago.
