Andrews Kurth Represents BMR Jamaica Wind Limited in $62.7 Million Loan for 36.3MW Jamaican Wind Farm

(Washington, DC)—On December 24, 2014, BMR Jamaica Wind Limited (“BMR”) closed on the $62.7 million dollar non-recourse project financing co-lent by the International Finance Corporation (“IFC”), the IFC-Canada Climate Change Program (“IFC-CCCP”) and the Overseas Private Investment Corporation (“OPIC”). The proceeds of the loan will be used to finance a 36.3MW wind farm in St. Elizabeth Parish, Jamaica. The wind facility will sell power to the Jamaica Public Service Company under a 20-year power purchase agreement.

Vera Rechsteiner, Roger Feldman, Giji John, Eric Markus and Sid Sethy advised BMR as New York counsel. IFC, IFC-CCCP and OPIC were represented by Chadbourne & Parke LLP’s Peter Fitzgerald and Matthew Gurch. BMR’s local counsel was Andrea Scarlett-Lozer of the Jamaican firm of Myers Fletcher & Gordon and IFC’s, IFC-CCCP’s and OPIC’s counsel were Courtney Bailey and Topaz Johnson of DunnCox. MUFG Union Bank N.A. (as the New York depositary bank and collateral agent for the lenders) was represented by James Scantling of McCarter & English and Scotiabank (the Jamaican depositary bank) was represented by Arthur Hamilton of Patterson Mair Hamilton. 

As released by the former Andrews Kurth Kenyon LLP