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Latham & Watkins Advises IEnova in Obtaining Long-Term Credit Facility Certified Under the Green Loan Principles

April 13, 2020
US$100 million financing from Japan International Cooperation Agency (JICA) will help fund IEnova’s solar projects in Mexico.

Latham & Watkins advised Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), the largest private-sector energy company in Mexico, in obtaining a 15-year credit facility for US$100,000,000 from the Japan International Cooperation Agency (JICA) to help finance the construction of IEnova’s solar generation project portfolio in Mexico. The transaction is JICA’s first private sector investment financing project in Mexico since 2012, and is the agency’s first loan under the Green Loan Principles. 

Members of Latham’s Latin America Practice advised IEnova in the transaction with a team led by Project Development & Finance partner Sony Ben-Moshe and counsel Luis Torres and Capital Markets partner Roderick Branch.   

The transaction exemplifies Latham’s market-leading work in sustainable finance across the world, including in Latin America. The firm was named Green Bond Law Firm of the Year in 2019 by Environmental Finance.