Morgan & Morgan advised the lenders with respect to loans for an amount up to US$300 million for the financing of a four wind farms in Panama

January, 2015 - Panama, Panama

Morgan & Morgan acted as Panamanian counsel to International Finance Corporation (IFC), Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), Societe de Promotion et de Participation pour la Cooperation Economique (Proparco), Oesterreichische Entwicklungsbank AG (OeEB), Central American Bank for Economic Integration (CABEI), Banco General, S.A. and Banco Nacional de Panamá; as lenders, in connection with a US$300 million debt-financing for the ongoing construction, operation and maintenance of the second phase of the Penonomé wind power project comprising a 215 MW wind power plant consisting of four wind farms in the Republic of Panama.

The project is expected to be the largest wind farm in Central America and a new component in Panama´s renewable energy matrix.

Partner Ramon Varela and associates Kharla Aizpurua Olmos, Gilbert Mallol and Carlos Hoyos, participated in this transaction.

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