We advised ICBC on the first Yuan-denominated loan in the renewable energy sector
Pérez Alati, Grondona, Benites & Arntsen advised Genneia S.A., acting as borrower, Argentina’s leading renewable energy developer and generator (“Genneia”), on a loan facility from Industrial and Commercial Bank of China (Argentina) S.A.U. (ICBC) in the aggregate amount of CNY 358,766,000 (three hundred fifty-eight million seven hundred sixty-six thousand yuan renminbi) (equivalent to approximately USD 50 million) (the “Loan”). Bruchou & Funes de Rioja advised Industrial and Commercial Bank of China (Argentina) S.A.U., acting as lender (“ICBC”).
This is a landmark transaction insofar as it represents one of the first yuan-denominated financings granted locally.
The proceeds from the Loan will be used by Genneia for general purposes related to the development of renewable energy generation projects, including capital investments, development expenses, and operation and maintenance costs.
The transaction closed on August 7, 2025.
ICBC’s legal advisors:
In-house legal team: Tomás Koch
Bruchou & Funes de Rioja’s Banking & Capital Markets Department: Partner Matías López Figueroa, and associates Juan María Rosatto and Teo Panich.
Genneia’s legal advisors:
In-house legal team: Eduardo Segura and Matías Fraga.
Pérez Alati, Grondona, Benites & Arntsen: Partner Diego Serrano Redonnet, counsel Nicolás Aberastury and Juan Ignacio Dighero, and associate Juan Ignacio Rodriguez Goñi, with the collaboration of Partner Facundo Fernández Santos on tax matters.
