Dentons has advised CIBC FirstCaribbean International Bank on its multi-tranche US$88,000,000 project financing to BMR Energy Portfolio I Limited. The loan will be used for refinancing of a portfolio of renewable (onshore wind and solar) energy assets in Jamaica, the Cayman Islands and the Republic of Guatemala.

The transaction is the third time that Dentons has recently represented CIBC FirstCaribbean International Bank on a major project financing in the Caribbean, having advised on the refinancing and the expansion of the Antigua Cruise Port in St John’s, Antigua and the refinancing and optimization of the Content Solar photovoltaic power generation plant in Jamaica.

Dominic Spacie, consultant in Dentons’ UK Energy and Infrastructure Finance team who led on the transaction, said: “This was a complicated multi-jurisdictional transaction involving Dentons’ offices across the region and it was a testament to the team that financial close was achieved for the client successfully. This was the second renewables sector financing on which we have advised CIBC FirstCaribbean, which has now deployed over US$150 million to the financing of renewable energy assets in the Caribbean, cementing its position as the leading commercial bank lender to the renewables sector in the region.”

Alongside Dominic Spacie, the Dentons team was led by senior associate Tom Guilfoyle and included associate Thomas Collier and trainee Daniel Mayhew in London, partner Carl Steen in the US and, highlighting Dentons’ reach across the Caribbean and Central America, senior associate Neichelle Spence Lattibeaudiere at Dentons Delany in Jamaica, partner Stuart Bruce at Dentons Delany in the British Virgin Islands, Senior Corporate Counsel Brian Patterson at Dentons Delany in the Cayman Islands and Senior Associate Shervon Pierre at Dentons Delany in St Lucia.