GNA 1: Power Financing & Brazil’s Infrastructure Financing of the…
- Lakeshore Partners is the financial advisor of Gás Natural Açu (“GNA”), JV of Prumo, Siemens and BP responsible for the UTE GNA I
- UTE GNA I project is 1.3 GW thermal power plant under construction and to start operations in Jan/21, with total investment of R$4.5 billion
- The long term financing is a multi-sourcing structure comprised by BNDES/KfW/Euler Hermes/IFC summing up R$2,600mm
- Such financing package included an innovative structure of an ECA (Euler Hermes) issuing a credit guarantee cover in R$ to raise local currency funding from BNDES
- Our 3-year work involved a pioneer greenfield project with a complex and innovative financial structure for the Brazilian market that can be replicated in several other cases in the energy sector
Lakeshore role in the Project
- Identification, development and negotiation of the potential sources of funding for the Project
- Complete structuring of the financing package with participation from different sources of financing (BNDES, KfW IPEX, IFC and Euler Hermes)
- Advisory in the due diligence process and approvals by all parties involved in the Project
- Advisory in the negotiation and closing of the final documents, together with the legal advisors of the Project