Clifford Chance advises China Three Gorges on RMB-denominated financing from New Development Bank for Serra da Palmeira wind project in Brazil

Global law firm Clifford Chance has advised clean energy company, China Three Gorges Brasil Energia S.A. (CTG) on an RMB-denominated loan facility provided by New Development Bank (NDB) to support the development and operation of the 648 MW Serra da Palmeira onshore wind power project in the State of Paraíba, Brazil.

NDB is a multilateral development bank headquartered in Shanghai. It is established by Brazil, Russia, India, China and South Africa to mobilise resources for infrastructure and sustainable development projects in emerging markets and developing countries.

The financing supports CTG’s continued investment in renewable energy in Brazil and represents a further example of the use of RMB-denominated financing for overseas renewable energy projects.

Partner Vicky Ma commented: “We are delighted to have supported CTG on this important cross-border financing. The transaction brings together RMB-denominated funding, Chinese investment and multilateral financing to support renewable energy development in Brazil. It highlights the growing role of RMB financing as a source of capital for international energy and infrastructure investments.”

The Clifford Chance team was led by Vicky with support from senior advisor Yi Wang (Luxembourg) and associate Patrick Lam (Hong Kong). Partner Patrick Jackson (São Paulo) also assisted on the transaction.