Baker McKenzie advised on the San Martin Hydroelectric Project in Nicaragua which was awarded the "Latin America Hydro Deal of the Year" at the IJGlobal Awards, held in New York on March 15.

The IJGlobal Awards are a celebration of best in class deals in the energy and infrastructure space over the past year.

Baker McKenzie partner Margarita Oliva and associates Luis Ernesto Marin and Uldarico Ossio advised Belgian Investment Company for Developing Countries (BIO) and Triodos Groenfonds N.V. in connection with financing for the San Martin Hydroelectric Project.

Commenting on the awards, José Morán, North America Chair of Baker McKenzie's Banking, Finance & Major Projects Practice Group, said, "First and foremost we would like to thank our clients for entrusting us with their most complex cross-border deals and IJGlobal for this recognition. This important recognition speaks to our work as strategic advisors and demonstrates our ability to bring together teams across regions."

The San Martin Hydroelectric Project is a six megawatt, greenfield, run-of-river hydro developed by Interamerican Hydroelectric Corporation. The project is located in Nicaragua on the Bijao River which is a tributary of the Tuma River.

The major development impact of this project is the contribution to clean and sustainable energy generation in Nicaragua. The project added generation capacity to the system in a remote area, contributes stabilizing electricity supply and enables grid extension in the impoverished area where the project is located. Energy generated will substitute the import of fossil fuels (used for thermal energy), helping Nicaragua's trade balance and external dependency. The project's access roads also benefit the local farming communities.

"We offer clients the benefits of a broad-based, collaborative Latin Finance practice—anchored by our Chicago and New York offices and complemented by our 800 lawyers across 15 offices in seven countries in Latin America. The lawyers in our Latin American Finance team understand the legal and political challenges within the local markets and have the cultural background to work effectively in the region," added Margarita Oliva Sainz de Aja, North America Chair of Baker McKenzie's Latin Finance Practice.

Rafael Berckholtz, a New York based partner in Baker McKenzie's Banking, Finance & Major Projects Practice added, "Baker McKenzie’s participation in the San Martin Hydroelectric Project is a good example of how our robust presence in the Americas, and our sophisticated understanding of local industries and cultures contribute to our clients’ success. This transaction not only advanced our clients’ business interests, but also helped create lasting value for a developing region through sustainable green energy. This award acknowledges our commitment to social impact and our dedication to maintaining a deep level of expertise on Latin American markets.”

About Baker McKenzie's Project Finance Capabilities

Baker McKenzie is one of the world's most active project finance law firms. We advise sponsors, developers, financial institutions, investment funds, governments and governmental agencies on projects development and their financing across a wide range of industry sectors, including oil and gas, power, renewable energy, transport, water and social infrastructure on a full array of development and financing structures, including limited recourse financing, capital market issues, Islamic finance and project bonds.

The Firm also continues to actively grow its transactional capabilities in New York, having added approximately nine lateral partners to its New York office in the last two years.

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