Alemán, Cordero, Galindo & Lee houses a comprehensive projects practice, which is particularly renowned for its expertise in the transport infrastructure space. The firm has significant experience in the financing, structuring, construction and operation of major transport projects, spanning the expansion of highways, port facilities and the Panama Canal. On the energy front, the team is equally adept at advising on conventional and renewable energy (with an emphasis on solar power), as well as assisting international clients with the operation of Panamanian mining concessions. Following the departure of former practice co-head Eloy Alfaro in July 2022, the key names at the senior level are former Minister of Foreign Affairs Alejandro Ferrer; Raúl Borrell, whose practice encompasses public tenders and concessions and the development of maritime and port facilities; and energy specialist Jaime Castillo. The experienced associate group includes Diego Anguizola, Sophia Astrid Lee and Doris Nieto.

The projects and energy practice at Galindo, Arias & López stands out for the depth and breadth of its offering, with strengths encompassing project finance, public procurement and government contracts, real estate and regulatory matters. The financing of large-scale energy and infrastructure projects (including the development of major healthcare facilities) is a core source of mandates, but the team is also highlighted for its experience in energy-related disputes, where clients emphasise its ‘extensive knowledge of the laws that govern the Panamanian electricity market‘, and regulatory issues in the renewables space. Salomón Behar, a high-profile name for public tenders and project development in the energy sector, leads the practice alongside project finance expert Cristina Lewis. Diego Herrera and litigation partners Diego de la Guardia and Selva Quintero (both specialists in the energy and public utilities sectors) also lend senior expertise to the team.

Morgan & Morgan is hailed by clients for its ‘strong and well-coordinated team‘ in the energy and projects sphere, whose ‘diverse abilities‘ enable the firm to assist clients across the full spectrum of public procurement, permitting, financing and construction matters. The team is widely revered for its strength in the financing and development of significant infrastructure projects – its impressive recent record includes advising on the expansion of the Panama City metro system – but it is also highly experienced in energy projects, with an emphasis on the power industry. Its wide-ranging client base includes banks and multilaterals, public bodies and major developers. Ramon Varela, a go-to specialist in the energy sector, leads the team. Inocencio Galindo also brings his strong corporate and finance background to bear in the financing of public infrastructure projects, while Kharla Aizpurúa, Aristides Anguizola, who has notable expertise in the mining industry, and Ana Carolina Castillo, who was elevated to the partnership in January 2023, are also key members of the practice.

Alfaro, Ferrer & Ramírez garners praise from clients for its ‘extensive experience and knowledge‘ in the full range of projects and energy matters, including public procurement and concessions, project finance, regulatory matters, and the sale and acquisition of energy companies. The team stands out for its diverse sector expertise, which spans the energy, oil and gas, logistics, marine infrastructure, telecoms and transport industries. Annette Bárcenas is widely regarded as a leader in public procurement, routinely advising on the bidding processes for high-profile transport and renewable energy projects. She shares leadership of the practice with Juan Antonio Alfaro, who is highly sought after for his advice on maritime and port concessions, and Luis Horacio Moreno, an expert in energy, telecoms and government contracts. Corporate partner Roberto Harrington and associate Daniela Meana provide key support.

Arias, Fábrega & Fábrega‘s active projects and energy practice strikes a balance between transactional and regulatory work. Drawing on the wider firm’s strength in the banking and finance sphere, the team is particularly well known for its prowess in project finance, advising an extensive roster of international financial institutions and multilateral development agencies. The firm’s recent workload spans the financing of projects in the transport, energy, hospitality and public infrastructure (including healthcare) sectors, as well as energy-related M&A. Estif Aparicio, who is renowned for his experience in complex, often cross-border financial transactions, takes the lead on project finance matters, while Sofía Cohen heads the regulatory side of the practice. The sizeable team also benefits from the expertise of up-and-coming partner Fernando Arias F and international associates Cedric Kinschots and Donald Canavaggio.

Dentons‘ wide-ranging practice spans projects, energy, government contracts and public procurement matters, with a strong track record in the development of road, public utilities, healthcare and energy infrastructure projects. Its client base includes a host of major international construction companies, multilateral investment institutions and energy companies. Practice head María del Rosario de Roux stands out for her advice on high-profile public infrastructure projects, while Panama managing partner Gisela Álvarez de Porras brings extensive experience in the public sector (including as director of Panama’s internal revenue service and as Minister of Commerce and Industry). Associate Nicole Goldoni provides capable support in energy and government contracts matters.

Fabrega Molino‘s projects and energy practice attracts strong praise for its ‘experience in dealing with regulatory bodies‘ and ‘deep knowledge of Panamanian public law‘, which is reflected in its recent advice to the Ministry of Public Works on the structuring of Panama’s first PPP project. The firm also has a robust track record in advising on the tender process and financing of major projects in the energy (including renewables), transport and mining sectors. At the head of the practice, Ana Lorena Morales, who is singled out for her ‘clear understanding‘ of both public and private projects matters, specialises in government contracts, with expertise in the construction, telecoms, energy and transport spaces.

SIGMA International and Global Market Attorneys‘ ‘valuable and versatile‘ team is particularly sought after for its advice to international clients on the financing of major renewable energy projects, combining the boutique firm’s expertise in financial and capital markets transactions and knowledge of the energy industry. In addition, the firm is consistently active in handling M&A in the energy sector and the acquisition of energy assets. Practice head Cecilio Castillero, who is admitted to practice in New York and Panama, has a strong profile in international matters and ‘impresses with his comprehensive knowledge‘ of the projects and energy space. He is ably supported by senior associate Mónica Moreno and associate Eric Carles (who is also dual qualified in New York and Panama).