Arias, Fábrega & Fábrega acted as counsel to the Bank of Nova Scotia acting as lender in a loan facility of up to US$61 million granted to Kanan Overseas I, Inc., for the financing of the purchase by the borrower of two barges containing electricity generators (Santa Inés and Estrella Del Norte) with a combined capacity of 92MW.

There have been few financings of power generating barges in Panama. This transaction is the second one in which ARIFA energy team has participated.