Latham & Watkins Advises Copenhagen Infrastructure Partners in Project Financing for Arena BESS Project

Copenhagen Infrastructure Partners, via its Growth Markets Fund II (GMF II), has completed its project financing on the Arena BESS project in Chile, the fund’s first investment in Latin America. The successful closing marks another milestone for GMF II as it continues to expand its asset base and support the energy transition in the region. With a capacity of 220 MW / 1,100 MWh, Arena BESS is set to become one of the first and largest standalone BESS projects to reach commercial operation in Chile. Construction is well underway, and the project is expected to begin commercial operations as early as Q1 2026. The financing includes approximately US$135 million of senior debt provided by Société Générale and SMBC.

Latham & Watkins advised Copenhagen Infrastructure Partners in the financing, with a project finance team led by partners Carlos Ardila and Warren Lilien, with associate Javier Arreola and assistance from Elisa Vial and a project development team led by counsel Seth Richardson, with associate Kyle Pascucci. Advice was also provided on environmental matters by partner Josh Marnitz and with associate Kate Johnstone; on tax matters partners Eric Kamerman and Eli Katz, with associate Chris Zhao; on ERISA matters by partner Bradd Williamson, with associate Anne Bracaglia; and on regulatory matters by associates Eric Green and Amulya Vadapalli.