PJS Law Counsels North Luzon Renewable Energy Corporation for its PhP3B Loan Facility









March 21, 2014

PJS Law represented and assisted North Luzon Renewable Energy Corporation (NLREC) in the financing of its 81 MW Wind Energy Power Plant in Caparispisan, Pagudpod, Ilocos Norte. NLREC entered on 12 March 2014 into an Omnibus Loan and Security Agreement with Rizal Commercial Banking Corporation (RCBC), where RCBC extended a PhP3B Loan Facility to NLREC.

NLREC is the project company of UPC Philippines Wind Holdco B.V., a wholly owned subsidiary of UPC Renewables Partners, a global leader in wind energy developments, AC Energy Holdings, Inc., the energy unit of diversified conglomerate Ayala Corporation, and the Philippine Investment Alliance for Infrastructure (PINAI), the dedicated infrastructure fund managed by Macquarie Infrastructure Management (Asia) Pty Limited Singapore Branch.

Partners Ramil E. Bugayong and Monalisa C. Dimalanta led the team for PJS Law which included Senior Associates Rachelle M. Diaz and Pearl Grace G. Cabali.