Milbank LLP advised Valia Energía, a portfolio company of the global private equity fund manager Actis, dedicated to affordable and reliable power generation in Mexico, on the acquisition of EVM, an energy portfolio that generates electricity from natural gas. This transaction consolidates Valia's platform, with seven natural gas-fired generation plants with a total installed capacity of 3.2 GW located in the states of Tamaulipas, Coahuila and Estado de México along with an adjacent natural gas pipeline. The integration of EVM adds two advanced natural gas-powered plants to Valia's current portfolio, EVM II, a combined cycle plant with an installed capacity of 850 megawatts (MW) equipped with GE’s H-Class advanced turbines, and EVM I, a 100 MW simple cycle plant, equipped with three GE aeroderivative units, both located in the State of Mexico. The acquisition includes the purchase of GE Energy Financial Services’ 40% stake in EVM II. The Milbank team was led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partner Aaron Stine, along with special counsel Benjamin Fidler and associates Victor Zhao* and Yuna Pyun. The core Milbank team also included Global Project, Energy and Infrastructure Finance partner Roland Estevez and associates Séverine Losembe and Sofia Duclaud.

• Not yet admitted to practice in New York