Delphos was the sole financial advisor to the Consorcio Energetico de Punta Cana Macao (“CEPM”) for a wind power project in the Dominican Republic, and assisted the company in obtaining financing from the International Finance Corporation (“IFC”). IFC’s investment consists of a guarantee of about $12.5 million to a Danish Funding Bank to finance the construction of wind power facilities with a capacity of 8.25 MW and an IFC A Loan of up to $10 million to fund CEPM’s various capital expenditure programs and acquisitions. The guarantee structure was a new product for IFC and required the agency’s cooperation with Danida, the Danish foreign aid organization, which provided an interstate subsidy to the Danish Bank. The capital raising program was rounded up by additional senior debt financing of $9 million from Spanish and other commercial banks and internal cash flow generation of $11 million. Financial closing for the IFC loan was achieved in July 2005.