Vinson & Elkins represented Banco Santander, S.A., New York Branch, as coordinating lead arranger and lender, in connection with senior secured credit facilities and a debt service reserve letter of credit facility provided to Borealis Intermediate 1 GP, as borrower, to finance the acquisition by Morgan Stanley Infrastructure Partners of a 47.5% equity interest in Greenlight Electricity Centre Limited Partnership and the payment of project costs. The Project is Phase 1 of the Greenlight Electricity Centre, a combined cycle natural gas-fired power generation facility with a nameplate capacity of approximately 932 MW from two power trains of approximately 466 MW each, located near Fort Saskatchewan, Alberta, the full capacity of which is contracted to provide power to a co-located data center being developed by Meta.
The Vinson & Elkins team was led by Partners Aaron Prince and Leila Ravi and Senior Associates Maria Borges and Eric Backman, with assistance from Associates John Brown and Mayra Espinoza Martinez. Also advising were Partners Danielle Patterson and Kilian De Cintre and Associates Kelly McGee, Destiny Alliniece, Joshua Hayes, and Trainee Solicitor Tom Osborn; Partner C.J. Polito and Counsel Mike Malenfant; Partner Matthew Dobbins and Associate Kevin Moscon; Partner Patricia Adams and Associate Madeline O’Neill; Partner Sean Becker and Senior Associate Peter Goetschel; Partners Wendy Salinas and David Peck and Associate Paige Melton; Partner Joyce Adetutu, Counsel Ken Adler, and Associate Caleigh Doran.
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