“Infrastructure investment is particularly important in Latin America at this time in places like Chile and Mexico. However, these territories are experiencing a reduction in their capacity to invest directly in all the infrastructure projects that are paramount for their respective social and economic development on a local level. This has given rise to the need for financial innovation and access to new investment funding from a variety of international sources to support PPPs. Mexico recently opened their tender for US$1 billion transmission PPP for the Baja California Transmission Line project, and disruptive and trend setting innovations, such as smart grids and energy storage will also certainly play their part in testing its new infrastructure,” said Carlos Solé, Co-Chair of the firm’s Latin America practice and Partner in Baker Botts’ Houston office.
“According to the World Bank some 30 African countries adopted laws regarding PPPs between 2004 and 2017. PPPs are increasingly seen as the key to leveraging private investment in energy and infrastructure projects and contributing to sustainable development, because they enable governments to access specialist professional skills, take advantage of economies of scale, and focus on delivery. However, these projects are typically long-term in nature with a number of legal pitfalls to overcome, and the only way to get it right is to identify all possible risks and contingencies during contract negotiations to secure the best-value contracts,”commented James Douglass, Partner in Baker Botts’ London office.
Transactions involving the electric power industry have been a core competence of Baker Botts for over 100 years. During that time, much of the worldwide power industry has been deregulated and privatized. Today, growing concerns about global warming promise even greater changes – more renewable generation, carbon abatement transactions and projects, and implementation of smart grid technologies. Our lawyers understand the regional commercial and regulatory implications of these trends, and can assist our clients in all aspects of this dynamic industry.
# # #About Baker Botts L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 179-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.