Latham & Watkins Advises Cordelio Power in the Financing of the Winfield Solar Project

Cordelio Power, a renewable power producer, has announced that the company's Winfield solar project has achieved commercial operations. Cordelio completed project financing for the Winfield project with lenders MUFG, National Bank of Canada, SMBC, and Rabobank, who provided a US$207 million construction loan facility and a US$106 million term loan facility. Cordelio partnered with Fifth Third Bank on the tax equity investment for the Winfield project, with a third party purchasing a portion of the project’s investment tax credits. The 150 MW AC project is located in Lincoln County, Missouri.

Latham & Watkins LLP represented Cordelio Power in the transaction with a Project Development & Finance team led by New York partner Kelly Cataldo, with associates Jiyeon Chun, Yoon Lee, and Yian Wang. Advice was provided on tax matters by New York partner Eli Katz, with associate Andrea Herman.