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Allen & Overy leads US$200 million green loan financing for IEnova in Mexico

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Mir Sami
Sami Mir

Partner

Washington, D.C.

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Umana Pablo
Pablo Umaña

Associate

Washington, D.C.

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Chris Jung

Associate

Washington, D.C.

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26 November 2019

Allen & Overy announced its role advising the International Finance Corporation (IFC) and North American Development Bank (NADB) on their US$200 million in green loans to Energética Nova S.A.B. de C.V. (IEnova), a leading energy company in Mexico, to fund four solar power plants across the country with a total capacity of 376MW.  
Closing team

IEnova is one of the largest private sector energy companies in Mexico, with operations in natural gas, power generation and refined products storage segments and this financing will help the company pursue its first solar energy projects.  IFC’s US$100 million loan marks its first in Mexico certified under the Green Loan Principles, which provide guidelines to ensure that the loan is used to promote climate sustainable projects. 

Partner Sami Mir, based in Washington, D.C. and A&O team lead, commented: “I am proud to be a part of this important financing which allows IFC, NADB and IEnova to make a direct impact on mitigating the effects of climate change through green investments in the Mexican energy market.” 

The A&O team was led by partner Sami Mir and associate Pablo Umaña in the Projects, Energy, Natural Resources and Infrastructure (PENRI) Group and ECA Group out of Washington, D.C.

Allen & Overy’s U.S. PENRI Group is a long-standing, established advisor to the leading Americas agency lenders, including IFC and NADB as a member of their global legal panels.  They advise export credent agencies, multilateral agencies and development finance intuitions on major transactions around the world across the entire spectrum of financings.

For further information, please contact Samantha Norquist at pro-a&o@prosek.com or Julie Simpson at Julie.Simpson@AllenOvery.com.