Norton Rose Fulbright US LLP
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Raquel Bierzwinsky advises US and international clients in the areas of project development and finance, international finance and mergers & acquisitions, with a particular emphasis in Mexico and Latin America. Ms. Bierzwinsky represents project developers, sponsors, commercial lenders, and multilateral and bilateral agencies in the structuring and negotiation of complex, multijurisdictional energy and infrastructure project financings, as well as in acquisitions and dispositions of projects.
Ms. Bierzwinsky is admitted to practice law in Mexico and New York State.
LLM, New York University School of Law, 2000
Law Degree, with honors, Universidad Iberoamericana AC, 1999
- New York State Bar
- Representing IIC, IFC, The Bank of Tokyo Mitsubishi UFJ, Banobras and Bancomext as senior lenders in the US$235 million financing of the 150 MW Solem 1 and 140 MW Solem 2 solar PV projects, located in Aguascalientes, Mexico, which are the first solar projects under Mexico's long-term clean energy auctions to reach financial closing.
- Representing IDB Invest, MUFG Bank and Spain's ICO in the financings of the 92 MW Conejos Solar Project, the 70 MW Guanajuato Solar Project and the 81 MW Xoxocotla Solar Project. All three solar projects are located in Mexico and are being developed by X-Elio Energy.
- Representing IDB Invest, Bancomext and ING in the financing of the 250 MWp Navojoa solar plant located in Sonora, Mexico, under development by X-Elio Energy.
- Representing a French developer in the development and financing of a 379 MWp solar PV power plant in Aguascalientes, Mexico.
- Represented Enel Green Power S.p.A., on the sale of 80 percent of the share capital of a Mexican holding company that indirectly owns a portfolio of eight renewable energy projects with a total generating capacity of 1.7 GW to Canadian institutional investor Caisse de dépot et placement du Québec and the investment vehicle of the leading Mexican pension funds CKD Infraestructura México S.A. de C.V. The transaction, being conducted using an innovative Build, Sell and Operate model, is worth US$1.35 billion (with an enterprise value of the Holdco of US$2.6 billion).
- Represented I Squared Capital Advisors, LLC in their US$1.2 billion acquisition of a portfolio of hydroelectric and natural gas generation plants, transmission infrastructure and natural gas processing facilities, totaling 2,300 MW in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina from Duke Energy Corporation.
- Represented Ormat International in connection with the US$42 million senior debt refinancing of the 20 MW Amatitlán geothermal power project in Guatemala.
- Represented Deutsche Bank Securities, Inc., Deutsche Bank AG, New York Branch and Intesa Sanpaolo S.p.A., New York Branch, in the US$92 million financing of the Vientos de Pastorale wind project located in Flores, Uruguay.
- Represented the lenders on the US$290 million financing of the Block Island Wind Farm, the first utility-scale offshore wind farm in the United States.
- Represented the Inter-American Development Bank in connection with the long-term refinancing of the 50 MW Jacinta Solar photovoltaic solar power station located in Salto, Uruguay.
- Represented the lenders, DNB Group, Agencia en Chile and Intesa Sanpaolo S.p.A., New York Branch, in connection with the short-term financing of the 50 MW Jacinta Solar photovoltaic solar power station located in Salto, Uruguay.
- Represented the lenders, including the Inter-American Development Bank, International Finance Corporation, Overseas Private Investment Corporation, Bancode Crédito Inversiones S.A., Banco del Estado de Chile, Banco Itaú Chile, CorpBanca, DNB Bank ASA and KfW IPEX-Bank GmbH on the project financing of the 531 MW Alto Maipo hydroelectric power project in Chile, sponsored by AES Gener S.A. and Antofagasta plc. The total financing represents US$1.217 billion of the approximately US$2.05 billion construction costs. The deal was awarded the 2013 "Latin America Power Deal of the Year" award by Project Finance International.
- Represented Macquarie Mexican Infrastructure Fund in the financing of the approximately 30 MW San Rafael hydroelectric power project in the state of Nayarit, Mexico.
- Represented North American Development Bank and Banco Mercantil del Norte, S.A. (Banorte), as lenders, in connection with a cross-border financing to Compañía Eólica de Tamaulipas, S.A. de C.V. (CETSA) for a 54 MW wind project in Tamaulipas, Mexico. The project is the first-ever bank-funded wind project in northern Mexico.
- Represented Macquarie Mexican Infrastructure Fund and Macquarie Capital Advisers on the development and US$693 million debt financing of a 396 MW wind farm in the State of Oaxaca, Mexico. The project was awarded the 2012 Latin America Wind Deal of the Year award by Project Finance magazine.
- Represented Société de Promotion et de Participation Pour la Cooperation Economique (PROPARCO) and Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO), as mezzanine lenders, in respect of the financing of T-Solar's 22 MW GTS Majes and 22 MW GTS Repartición thin-film solar photovoltaic projects in southern Peru. The deal was awarded 2011 Latin America Renewables Deal of the Year Award by Project Finance magazine.
- Represented Corporación Andina de Fomento and a group of commercial banks in connection with a US$239 million A/B loan project financing for the construction and operation of a soybean crushing facility and associated co-generation plant in Argentina. The sponsors of the project are Glencore International, Molinos Río de la Plata and Vicentin.
- Represented a sponsor in the financing of a combined wind and solar power project in Mohave, Arizona.
- Represented Corporación Andina de Fomento, FMO, Inter-American Development bank and Banco Internacional del Perú (Interbank) as senior lenders in connection with a US$150 million limited-recourse financing for development of a greenfield ethanol project on the northern coast of Peru consisting of a 7,800 hectare sugarcane plantation to provide sugarcane feedstock to the project, an ethanol distillery with capacity to produce up to 35 million gallons of ethanol per year and a 37 MW power plant to supply all of project's power needs. The deal was named 2010 Latin America Biofuels Deal of the Year by Project Finance magazine.
- Represented the International Finance Corporation and a syndicate of commercial banks in the financing of the Buenaventura port project in Colombia.
- Represented Foster Wheeler in the restructuring of its ownership interests in, and the proposed expansion and refinancing of, a cogeneration and delayed coker facility in Chile.
- Represented a power generation company in its acquisition and related financing of a 271 MW combined-cycle gas fired plant in the state of Chihuahua, Mexico and a 252.4 MW combined-cycle, gas and diesel fired plant in the state of Campeche, Mexico.
- Represented a power generation company in connection with its bid to acquire five power plants in Mexico from EDF.
- Represented a global independent power generation company in a US$3.4 billion leveraged recapitalization and refinancing transaction.
- Represented the lenders in respect of a term loan conversion for a 120 MW gas fired simple cycle power generation facility in the state of California.
- Represented the sellers in connection with the sale of controlling interests in fixed and mobile phone companies in Nicaragua and Honduras to América Móvil.
- Private Practice Powerlist: US-Mexico, The Legal 500, 2017, 2018
- IFLR1000 – United States, Euromoney Institutional Investor PLC, 2018
- Recommended lawyer, Banking & finance and Projects & energy, Legal 500 Latin America, 2018
- Co-author, "Bird's Eye View - Latin America / Project Development," IFLR, Nov. 15, 2018
- Co-author, "Electricity Projects & Regulation 2017: Mexico," Latin Lawyer Reference, Aug. 18, 2017
- Member, New York State Bar Association