The Panamanian law firm SIGMA participated as counsel in the purchase and sale, refinancing and cancellation of the previous owner’s debt. With this acquisition, the EnfraGen group becomes one of the largest energy generators in Panama.

•  The Panamanian law firm SIGMA has advised the EnfraGen group on the acquisition of Celsia’s renewable energy assets in Panama and Costa Rica, consisting of 3 hydroelectric plants, 2 solar plants and a wind farm with a combined generation capacity of 188MW.

  SIGMA’s lawyers, specialized in complex transactions, advised on the three fundamental parts of the transaction related to the Panama operation: the purchase and sale between of the assets; the financing of the purchase, which includes the refinancing of an EnfraGen bank facility originally entered into 2020; and the repayment of the existing debt of the acquired entities.

  “The confluence of three different operations made the transaction a highly complex; however, several of the participants have stated that the closing was very fluid,” explained Cecilio Castillero, partner at SIGMA. “From SIGMA’s point of view, the experience and close relationship with EnfraGen greatly facilitates our work, since they have been trusting our lawyers since 2014,” Cecilio Castillero said.

  EnfraGen is a developer, owner, and operator of grid stability and value-added renewable energy infrastructure businesses across Latin America. The company is a joint venture between Glenfarne Group and global private markets investment manager Partners Group.

  “With this acquisition, EnfraGen is one of the largest power generators in Panama, and we look forward to continued growth there and in other Latin American countries where we operate”, said Brendan Duval, CEO and Founder of EnfraGen and Glenfarne Energy Transition, LLC.

• The renewable power facilities in the transaction are:

• Dos Mares Hydro Complex (“DMA”): three run-of-river (“ROR”) downstream hydro plants in Panama totaling 119.0 MW of installed capacity.

• Prudencia and Divisa (“Solar Plants”): two solar PV plants in Panama totaling 19.7 MW of installed capacity.

• Guanacaste Wind Farm (“PEG”): one wind installation located in Costa Rica totaling 49.5 MW of installed capacity, representing EnfraGen’s first wind and Costa Rican asset.

• Corporate information about SIGMA

  SIGMA is the first Panamanian law firm that specializes solely in complex transactions, including corporate and project financings, capital markets, mergers and acquisitions, joint ventures, and construction contracts.

  SIGMA lawyers have work experience in both Panama and the United States, working for some of the most important legal firms in the world in the field of complex transactions.