Miami Attorneys Assist APR Energy in Commencing Operations in Argentina
Oct 01, 2008
APR Energy, a Jacksonville-based global developer of emergency and temporary power systems, recently commenced operations in Argentina with a 50-megawatt power generation contract to supply two sites with fast track power plants.
The $40 million contract ($17 million for the Formosa region and $23 million for the Saenz Pena region in northeastern Argentina), signed between an Argentine subsidiary of APR and an instrument of the Argentine government, establishes power generation facilities for 36 months in the two regions. Financing for the transactions closed on March 31, 2008.
Shutts & Bowen LLP attorneys Harold E. “Ed” Patricoff, Jr., Mark D. Hobson and Francis E. “Frank” Rodriguez, and Shutts & Bowen Foreign Legal Consultant Patrick Murray, working with Argentine counsel, assisted APR Energy by securing the bid, drafting and negotiating the power supply contract and closing on the financing for each site. In addition, Shutts & Bowen attorneys helped organize the Argentine legal entity while providing advice on contractual issues, corporate structure and federal income tax matters applicable to international business transactions.
The firm worked with APR’s current lender to modify its existing financing and to successfully obtain additional financing, secured by assets located in Argentina and elsewhere.
Shutts & Bowen partners Patricoff and Hobson assisted with corporate matters, and Rodriguez aided with corporate and tax matters. Murray, an Argentine attorney associated with Shutts & Bowen, also assisted with Argentine legal matters.
“We handled every legal and tax matter from the bid to the commencement of operations and the provision of energy in Argentina,” Frank Rodriguez said. Establishing the breadth of assistance Shutts & Bowen LLP is providing, Ed Patricoff added: “In addition to Argentina, we are also assisting APR with the provision of power in Costa Rica, Tanzania, Haiti, Pakistan and elsewhere around the globe.”
APR Energy LLC (formally ALSTOM Power Rentals), based in Jacksonville, specializes in the rapid deployment of turnkey power generation solutions coupled with comprehensive operation and maintenance services and ultimately the sale of reliable and efficient kilowatt-hours.
