Greenberg Traurig Supports Energía 2000 in Major Dominican Power Financing

Greenberg Traurig Assists Energía 2000 on $500M Dominican Republic Power Development

In a significant move for energy infrastructure in the Caribbean, Greenberg Traurig, LLP has provided crucial legal support for Energía 2000, S.A. in procuring a $500 million syndicated loan. This funding is intended for the Manzanillo Power Land Project, an ambitious initiative to construct and operate a 414-megawatt combined-cycle natural gas facility located in Monte Cristi, Dominican Republic. The project is not only a landmark investment in the region's energy landscape but also positions the Dominican Republic as an emerging leader in Latin America's energy market.

The Manzanillo Power Land Project is poised to be the largest single addition to power generation in the Caribbean in over a decade. It represents one of the most substantial private investments in the nation's infrastructure, demonstrating a commitment to enhancing energy capacity and reliability in the region. This project includes a state-of-the-art combined-cycle power plant, a liquefied natural gas floating storage and regasification unit, a maritime terminal, and a comprehensive natural gas pipeline system.

The newly constructed 345-kilovolt transmission line is particularly noteworthy. Spanning 128 kilometers, it connects the power plant in Pepillo Salcedo (Monte Cristi) to El Naranjo (Santiago), serving as a crucial link to the Dominican Republic’s National Interconnected Electric System. This extensive infrastructure development seeks to improve the stability of electricity supply and support economic growth in the region.

Greenberg Traurig's legal expertise was instrumental in structuring the financing, which was facilitated by a syndicate of 12 lenders from various countries, including the Dominican Republic, Panama, Costa Rica, and Guatemala. This collaboration was governed by a credit agreement under New York law, exemplifying the commitment to a reliable financing environment for powerful international partnerships. Notably, the financing structure was arranged without a sovereign guarantee, demonstrating the strength and viability of the project.

Leading the legal counsel for Energía 2000 was Marc M. Rossell of Greenberg Traurig's Latin America Practice, alongside Corporate Shareholder Oscar Stephens from New York and Energy and Natural Resources Shareholder Shashank Krishna based in London. The team included associates Taylor Brien and Christina A. Revilla Chacon, who contributed their expertise in navigating complex international legal considerations, coordinating multiple counsels and stakeholders in the process.

The involvement of local counsel, specifically Estrella Tupete, facilitated a comprehensive understanding of Dominican Republic legal matters, ensuring all regulatory requirements were met and further solidifying the project's foundation.

Greenberg Traurig continues to be recognized as a leader in the legal sector, providing innovative solutions across various industries. With approximately 3,200 attorneys in 51 offices worldwide, their dedication to client relationships and strategic legal advice has positioned them as a top firm in numerous rankings, including the Am Law Global 100.

The Manzanillo Power Land Project not only signifies a monumental step forward in the region’s energy capabilities but also illustrates the potential for further economic development within the Dominican Republic. With such impressive infrastructure investments, the country is set to enhance its status as a dynamic player in the energy markets of both Latin America and the Caribbean.