Shearman & Sterling advised the commercial and development banks, including BBVA Bancomer S.A., Caixabank S.A., MUFG Bank Ltd., Natixis – New York Branch, Banco Nacional de Comercio Exterior S.N.C., European Investment Bank, Inter-American Investment Corporation and the Inter-American Development Bank in connection with the Enel Green Power portfolio project financing of three solar photovoltaic (PV) plants in Mexico -- Don Jose, Villanueva I and Villanueva III -- with an aggregate project value of approximately $1 billion. Each project is contracted under a 15-year energy and 20-year clean energy certificate power purchase agreement awarded pursuant to auctions held by the Centro Nacional de Control de Energía (CENACE) of Mexico, following the historic energy reform of December 2013. 

Villanueva is the first energy project to start operation after Mexico’s energy reform came into effect, and once fully operational, it will be the largest PV facility producing energy in the Americas.

Enel Green Power is the recipient of Project Finance International’s “Americas Solar Deal of the Year” and “Global Sponsor of the Year” awards in recognition of this portfolio of solar facilities.

The team