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Latin America Guide 2023

Ranked in 1 Practice Areas
2
Projects & Energy
4 Years Ranked

About

Provided by Ramón Varela

Latin America

Practice Areas

Mr. Varela is a Partner in the corporate law department and heads the Energy and Projects practices of the firm. Mr. Varela specializes in energy transactions and advisory work, in particular on mergers and acquisitions, financing and regulatory issues. He mainly advises clients involved in the generation, supply, transmission and distribution of energy; including hydro, wind, natural gas and solar projects.

His over 20 years of legal practice have given him considerable experience in major areas not only those related to the energy sector, but also infrastructure projects including transportation, ports, water and sewage. Additionally, he has extensive experience of assisting clients on disputes within the energy and infrastructure sector.

Professional Memberships

International Bar Association (IBA); Panamanian Association of Business Executives (APEDE, for its initials in Spanish).

Publications

- Chambers & Partners Alternative Energy & Power Guide 2019.

- Panama Seeks to Adopt a Framework Law for Public-Private Partnerships.

Work Highlights

Recent relevant experience includes among others:

Advising Generadora de Gatun, S.A., and AES Panama in connection with the financing of a new natural gas-fired power plant.

Advising Banco General, S.A., and Banistmo, S.A., as arrangers and underwriters in connection with the public offering and issuance by Fountain Hydro Power Corp. of corporate bonds for an amount of up to US$110 million.

Advising Seven Seas Water and a group of its subsidiaries, in a US$205,000,000.00 financing.

Advising Seven Seas Water Corporation in a US$163,000,000.00 financing.

Advising the original lenders in the refinancing and takeout of the original credit facility for the construction, operation and maintenance of the second phase of the Penonomé wind power project.

Advising Avanzalia, Spanish energy company, on the final stages of the development and commissioning of the Penonomé Power Plant, a photovoltaic power plant with an installed capacity of 120MW.

Advising International Finance Corporation, who will be advising Empresa de Transmisión Eléctrica, S.A. (“ETESA”) on the development and bidding of a project for the engineering design, procurement, construction, operation and maintenance of the fourth transmission line in the Republic of Panama.

Regular advice to The AES Corporation on regulatory, contractual, environmental and tax matters related to the hydroelectric, LNG and thermoelectric power plants owned and operated by the AES Corporation through AES PANAMA, S.R.L., AES CHANGUINOLA, S.R.L., and GAS NATURAL ATLANTICO, S. DE R.L.

Chambers Review

Provided by Chambers

Latin America

Projects & Energy - Panama
2
Band 2

Well-regarded partner Ramón Varela routinely furnishes advice for financial institutions involved in project finance mandates, as well as clients in the development and operational phases of energy projects. He comes highly recommended by a client, who reports: "Ramón Varela is one of the finest energy lawyers in Panama," adding: "He has a very strong client service, as well as the ability to handle highly sophisticated mandates."

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