Department profile
SIGMA International and Global Market Attorneys

Projects & Energy

Latin America Guide 2027 : Panama


SIGMA International and Global Market Attorneys

Rankings

About

Provided by SIGMA International and Global Market Attorneys

SIGMA's work in the Projects & Energy Department involves assisting generation companies and their shareholders in connection with all their regulatory, financing, M&A and operative matters. This includes performing due diligence; work on financing and collateral documents; on share purchase agreements and shareholders’ agreements; on EPC, BoP, BoS, engineering and/or construction contracts and O&M agreements; and preparing filings with governmental authorities.

For example, SIGMA assisted EnfraGen in its 2023 acquisition of Celsia's Panamanian and Costa Rican generation assets, simultaneously involving an acquisition, a bond repayment and a restatement of the acquisition financing facility; the 2020 restatement of its main financing, involving a credit facility and a 144A/Reg S bond, which resulted in IFLR's nomination of SIGMA’ for Law Firm of the Year in Panama; and its 2018 acquisition of the Hidrotenencias project.

In another example, SIGMA assisted InterEnergy in its 2021 joint venture with AES for the acquisition, development and construction of the Generadora de Gatún generation project, which at 670 MW of installed capacity is the largest generation plant in Panama; its 2022 financing for the construction of the Generadora de Gatún project, which transaction won LatinLawyer’s Deal of the Year Award; and its 2020 issuance of its $262,664,000 144A/Reg S bond. SIGMA also assists InterEnergy with its investments in the Dominican Republic, Puerto Rico and Jamaica.

Clients (3)

  • InterEnergy
  • EnfraGen
  • Acciona

Industries (1)

  • Electricity generation

Chambers Review

Provided by Chambers

Projects & Energy - Panama

Band 3

Band 3


What the Team is Known For

SIGMA International and Global Market Attorneys is a boutique law firm with a distinguished projects and energy practice recognised for its active involvement in the sector. The department handles a broad range of mandates, including project finance, public bidding processes for project construction, and regulatory advisory. The team is also well versed in transactional matters involving acquisitions and disposals in the renewable energy sector.

Work Highlights

Provided by Chambers

  • SIGMA International and Global Market Attorneys acted as Panamanian counsel to EnfraGen on the financing arrangements for a multi-jurisdictional energy infrastructure portfolio comprising hydroelectric and solar assets.

Strengths

Provided by Chambers

  • SIGMA International and Global Market Attorneys stand out for their judgement, responsiveness and credibility. The team provide timely, thoughtful and candid advice, identify uncertainties early, and build trust through a transparent approach that reinforces their reputation as a reliable adviser on complex cross-border matters.

    Projects & Energy respondentLatin America

Notable Practitioners

Provided by Chambers

  • Band 3Cecilio Castillero
    Band 3Cecilio Castillero

    Cecilio Castillero

    Recognised partner Cecilio Castillero remains active advising clients on projects and energy mandates in Panama, and boasts noted expertise in project financing.

    • Cecilio Castillero provides exceptionally prompt responses and remains closely engaged with every matter. He addresses requests and implements changes efficiently, which proves particularly valuable in time-sensitive situations.

      Projects & Energy respondentLatin America
  • Associates to watchEric Carles
    Associates to watchEric Carles

    Eric Carles

    Associate-to-watch Eric Carles earns strong praise from interviewees for his expertise in project finance and energy matters in Panama.

    • Eric Carles stands out for his strong technical expertise in the field and his practical, execution-focused approach. He consistently provides responsive, thoughtful and commercially focused advice.

      Projects & Energy respondentLatin America

Ranked Individuals at SIGMA International and Global Market Attorneys (2)

Panama

Members

Provided by SIGMA International and Global Market Attorneys

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