The BLP Costa Rica team advised Citigroup Global Markets Inc. and J.P. Morgan Securities LLC on the issuance by Investment Energy Resources Limited of $700 million in Secured Notes with a Fixed Rate of 6.250% maturing in 2029. The firm also advised Banco Latinoamericano de Comercio Exterior, SA, Banco Industrial, SA, Westrust Bank (International) Limited,…
Tag Archives: Energy & Infrastructure
The project involves the purchase and conversion of a liquified natural gas (“LNG”) carrier to a Floating Storage and Regasification Unit (“FSRU”). The FSRU will be permanently moored at the port of Acajutla in Sonsonate, El Salvador, to provide liquified natural gas regasification services to Energia del Pacifico Limitada de C.V. (“EDP”), a 378-megawatt combined…
On September 8, 2020, the Nicaraguan National Assembly approved the proposed reform of Law 532, a law for the promotion of electricity generation with renewable sources. Since its approval in 2005, this law has undergone several reforms through which the tax incentives that were initially given to electricity generation projects from renewable sources have been…
The Costa Rican government has issued a regulation exempting spare parts for electric vehicles and fast-charging centers from the Value-Added Tax (VAT), Selective Consumption Tax, and the 1% tax over customs value. The regulation also established the obligation for electric vehicle importers to inform the Energy Direction of the MINAE, during September of each year,…
Law No. 1,012, published on 12-19-2019, reforms the articles of Law No. 286 Special Law on Exploration and Exploitation of Hydrocarbons. Law No. 286 is the norm that regulates the exploration, drilling and other activities related to the search and potential extraction of oil, gas and other hydrocarbons in Nicaraguan territory. The main objective of…
Nicaragua’s Energy Industry was recently reformed by publication in the Official Gazette of Law 1,011 that amends Article 32 of Law 272, Law of the Electricity Industry. The amendment creates an exemption from all taxes on an activity that meets the following conditions: Sale of Electric Power, made by a Distributed Generator, to the Distribution…
Interesting changes are taking place in the Honduran market, thanks to technological advances in the electric power sector, where consumers and commercial/industrial companies can install self-consumption electrical energy systems in order to reduce usage, protect the environment and especially to reduce the amount of the electric bill. This practice is being implemented by entry into force…
The BLP team advised BMR Energy, a subsidiary of Sir Richard Branson’s Virgin Group, on closing the $7 million acquisition of the Valle Escondido Solar Project, the only solar project of its size in Costa Rica, a significant investment in the country’s renewable energy. Under the new structure, BMR Energy will assume the construction and…