Leading Individuals

Energy and natural resources in Costa Rica


With five offices across Latin America, the team at BLP utilises its regional strength to advise multilateral banks, development finance agencies and major multinationals on high-value energy and infrastructure projects, including solar power plants, battery energy storage systems, hydro facilities and wind farms. Energy finance expert Luis M Castro leads the practice, along with David Gutiérrez, who specialises in multi-jurisdictional purchases and credit operations. Julio Castellanos has experience in the negotiation of public works concession contracts and Pablo Umaña assists with project finance in emerging markets.

Responsables de la pratique:

Luis M Castro; David Gutiérrez

Les références

‘Deep knowledge of the energy sector in Costa Rica.’

Principaux clients

Corporación Multi Inversiones (CMI)

Citigroup Global Markets and Credit Suisse Securities





IDB Invest

GoSolar Energy Efficiency

Principaux dossiers

  • Advised Citigroup Global Markets, JP Morgan Securities and Corporación Multi Inversiones (CMI) on a high-value green debt tap made by a renewable energy company in Central America and the Caribbean.
  • Advised GoSolar Energy Efficiency on its loan with the United States International Development Finance Corporation for the development, financing, installation and operation of small-scale solar power facilities in Costa Rica.
  • Advised IDB Invest, a member of the IDB Group, on the granting of a partial credit guarantee facility of up to $20m to Banco Promerica de Costa Rica.

Aguilar Castillo Love

Powered by a strong Latin American presence, the team at Aguilar Castillo Love advises national and international energy generators and distributors, assisting with renewable energy and infrastructure projects over the course of their lifecycle. Rubén Zamora Castro, who leads the team, assists clients with high-value sales and purchases, permits, changes to energy and port tariffs, obtaining concessions, energy supply agreements, and the leasing of wind, solar and hydroelectric plants, as well as regulatory issues. Associate María Cristina Corrales brings expertise in project environmental impact matters to the team.

Responsables de la pratique:

Rubén Zamora Castro

Principaux clients



Empresa Eléctrica Matamoros


Compañía Hidroeléctrica Doña Julia

Hidroenergía El General

Sociedad Portuaria de Caldera


Hidroeléctrica Río Lajas

Principaux dossiers

  • Advised on the development of a joint solar project between Conelectricas and Coopealfaro.
  • Advised Compañía Hidroeléctrica Doña Julia and its shareholders on the sale of the Doña Julia hydroelectric power plant to Coopelesca.
  • Represented Empresa Eléctrica Matamoros in proceedings before ARESEP, the public services regulator, to obtain a 13% raise in the energy rate.


The energy team at regional firm Arias provides a one-stop shop for large-scale power generation projects, advising on every stage of development from initial investment to operations. In addition, the group’s full service extends to assistance with bidding processes, regulatory compliance issues, and advice to large energy consumers in the support of sale or supply contracts. Carlos Ubico, an expert in project finance, leads the team, which is supported by senior counsel Luis Diego Obando, an administrative law specialist who has litigated at both the national and international levels.

Responsables de la pratique:

Carlos Ubico

Principaux clients

Natural Partners

Real Infrastructure

Principaux dossiers

  • Advised photovoltaic energy producer Real Infrastructure in the negotiation of different contracts with the national electricity institute (ICE) regarding the installation of panels in the property of ICE clients.
  • Advised Natural Partners in a dispute to extend the period to begin the construction of solar panels, resulting in an amicable solution with the ICE.