Global law firm, White & Case LLP has advised Odebrecht on its proposed US$1.39 billion sale of the 456 MW Chaglla hydroelectric power plant in Peru (“Chaglla”) to a consortium of companies affiliated with China Three Gorges Corporation, comprised of Hubei Energy Group Co., Ltd., Ace Investment Fund LP II LP, and CNIC Corporation Limited.
Odebrecht, founded in 1944 and headquartered in Brazil, is a conglomerate with businesses in engineering, construction, industry, infrastructure and energy spanning 25 countries. Chaglla is Peru’s third largest hydroelectric power plant, with generating capacity comprising approximately 10% of the country’s total installed hydro capacity and approximately 4% of the total energy produced in the country. Chaglla was also the first power plant in Peru to comply with the Hydropower Sustainability Assessment Protocol.
The White & Case team that advised on the transaction was led by partner Oliver Brahmst and included associates Adam Cieply and Adam Plotkin.