Estudio Echecopar, member firm of Baker & McKenzie International, advised Brookfield Asset Management on a USD 27 million loan to Polaris Infrastructure Inc. to finance the operation of 3 run-of-river river hydroelectric power projects located in the Huanuco and Junin regions of Peru.
The use of proceeds of the Loan will be to repay the USD 4.0 million aggregate principal amount of an existing senior loan, with the remaining net proceeds to be used for general corporate purposes by Polaris.
A cross-border team advised Brookfield Asset Management. The Lima team was lead by Ines Baca and Ines Vazquez, partners; Fernando Sam, mid-level associate; and Claudia Cruces, associate. The New York team was lead by Emeka Chinwuba, partner, and Joseph Folds, associate.Polaris Infrastructure is a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America. The company operates a 72-MW geothermal project in Nicaragua and three run-of-river hydroelectric projects in Peru: 5-MW Canchayllo, 8-MW El Carmen and 20-MW 8 de Agosto.