Milbank LLP advised a syndicate of commercial banks, including Barclays, BBVA Mexico, Santander Mexico, and SMBC, and Mexican development banks NAFIN and Bancomext in connection with the acquisition financing of 13 Mexican power plants from Spanish energy group Iberdrola for approximately US$6 billion (MXN102.34 billion) by an acquisition trust managed by Mexico Infrastructure Partners FF. The transaction includes 12 CCGT power plants with almost 8,500 MW installed capacity (Monterrey I & II, Altamira III & IV, Altamira V, Escobedo, La Laguna, Tamazunchale I, Baja California, Topolobampo II and Topolobampo III, operated under the Independent Energy Generator regime, plus the private CCGT plants Monterrey III & IV, Tamazunchale II and Enertek) and the 103 MW La Venta III wind park. “We are proud to have advised on this landmark transaction, which, in addition to being one of the largest acquisitions in the global power sector in recent years, will also have a significant impact on Mexico’s expanding energy sector as it prepares itself to meet the growing power demands of its economy,” said Global Project, Energy and Infrastructure Finance partner Roland Estevez. Global Project, Energy and Infrastructure Finance partner Carolina Walther-Meade, added: “We are extremely pleased to have worked with NAFIN and Bancomext on this landmark deal which will strengthen Mexico’s participation in its electricity generation.” The Milbank team was led by Mr. Estevez and Ms. Walther-Meade, with associates Daniel Rios Zertuche, Sofia Duclaud, Ana Bueno, Sebastian Leon Nunez and Jeronimo Amenabar.* and by Corporate Finance and Securities partner Carlos Albarracín with special counsel Andres Osornio and associate Fernando Quezada. Advice was also provided by Alternative Investments partner John Williams with associates Devan Zorn and Serge Holodny *Not yet admitted to the bar