Hydroelectric power project receives “Deal of the Year” award

Norton Rose Fulbright's finance team has been recognized for its involvement in a US$334m hydropower plant rehabilitation project, receiving the "ECA, DFI, IFI Deal of the Year" award from the 2023 Bonds, Loans & ESG Capital Markets Latin America & Caribbean Awards.

Lawyers from São Paulo and Houston acted for JPMorgan and HSBC in the deal, which was guaranteed by the Multilateral Investment Guarantee Agency (MIGA). The project will repower and modernize seven existing hydropower plants throughout Mexico that are owned and operated by Comisión Federal de Electricidad, supporting the country's commitment to increasing renewable energy sources under the Clean and Renewables Electrical Projects Development Program and Transitional Energy Program.

The Bonds & Loans awards recognize the most pioneering deals from sovereign, corporate and financial institution issuers and borrowers. Recipients are chosen through an exhaustive selection process that looks at deal size, tenor, structure, distribution and other factors.

The Norton Rose Fulbright team for this deal included José A. Cobeña Serrano, Daniel Spencer (São Paulo) and Denton Nichols (Houston).

The JPMorgan team included Joan Tapia and José Cleves and the HSBC team included Sam Lippitt and Marion Coppere.