Muñiz, Ramírez, Pérez-Taiman & Olaya helped recently to Peruana de Inversiones en Energías Renovables (PIER) in the sale of the 20 megawatt Manta hydroelectric plant to the Spanish investment companies Bow Power and Stowe Invest. The Manta power plant is located in the region of Ancash, in western Peru. The concession was originally granted in 2011 to PIER.
Bow Power and Stowe get a US$51 million loan from Natixis to fund the project.
Bow Power is the result of the strategic relation between Global Infrastructure Partners (GIP) and the ACS Group (ACS), being these the shareholders of the company. Bow Power has an agreement with Grupo COBRA, a world reference EPC contractor, to design and build the projects that Bow Power develops.
The amount of the transaction is undisclosed.
Partners Andrés Kuan-Veng and Jorge Otoya acted as legal advisers of PIER.