Dentons Cardenas & Cardenas advised IDB Invest in the financing granted to Air-e, the main energy provider for Colombia’s Caribbean region. The financing consisted of a long-term loan for up to US$45 million for a term of eight years.As a result, Air-e intends to finance its investment plan in the northern region of the country in order to improve the capacity and efficiency of its power grid in 39 of the 57 municipalities where it currently serves as the main energy supplier. Air-e expects to enhance the quality of the service that is currently received by more than 1.3 million users.
In this regard, Bernardo Cardenas, managing partner of Dentons Cardenas & Cardenas, noted: “We are very proud to have participated in a milestone financing for Colombia’s energy market. We are aware of the challenges that persist in the Atlantic Coast, and we are convinced that, with this financing, Air-e will be able to strengthen its operational, logistical, and corporate capacity to optimize its processes and fulfill its strategic plan. All the above, for the benefit of the more than 1.3 million users who depend on its services daily”.
Santiago Gonzalez, partner, and leader of the advisory team commented: “The successful outcome of this financing is more than satisfactory. Our participation in a landmark financing for the country and, for Colombia’s Caribbean region, reveals the level of expertise and experience of the lawyers that are part of our Firm. The assistance of the entire team in this and in other similar transactions is a clear indicator of the organic growth that we are experiencing as an organization”.
Dentons Cardenas & Cardenas core team included: (i) Santiago Gonzalez, partner and (ii) Alejandro Parra, associate.
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