Firms To Watch: Electricity (and renewable energy)

The highly regarded David Waltenberg left Siqueira Castro – Advogados in October 2022 to rejoin Advocacia Waltenberg, a boutique power sector firm he established more than two decades ago.
Braz, Coelho, Campos, Veras, Lessa e Bueno Advogados showcases particular strength in hydroelectric, solar, thermoelectric and wind power generation. M&A, financing and dispute resolution are all areas of activity for the team coordinated by Rafael Véras De Freitas and Leonardo Coelho Ribeiro in Rio de Janeiro, and Felipe Henrique Braz in Curitiba.
In a move to strengthen its presence in the energy market, L.O. Baptista Advogados incorporated Brasilia-based energy boutique Reis Gomes Advogados in September 2022, making Henrique Reis and Victor Gomes the names to note in the team for administrative proceedings, and regulatory and commercial matters, respectively.
Established in 2020 by senior associate Marvin Menezes, Terciotti Andrade Gomes Donato Advogados‘ power department has continued to attract instructions from domestic and foreign clients alike. The team stands out for its solid experience in thermoelectric plants, distributed generation and self-production projects.

Electricity (and renewable energy) in Brazil

ASBZ Advogados

With the ability to act for clients across the entire spectrum of power matters, ASBZ Advogados is a particularly strong force in administrative proceedings and litigation, where it acts on behalf of a variety of companies from the generation, transmission, distribution and trading segments, as well as large consumers. Rafael Janiques, who ‘stands out for his technical knowledge‘, oversees the practice with Daniel Ribeiro do Valle. Associate Bianca Wolf Garzon Duffles has a strong background in litigation involving the energy sector.

Practice head(s):

Daniel Ribeiro do Valle; Rafael Janiques


‘The active participation of partners and senior lawyers is the firm’s high point, in addition to its ability to deal with the electricity sector in an outstanding way.’

‘Team of excellence, with high availability.’

‘Rafael Janiques and Daniel Ribeiro do Valle are recommended.’

Key clients

Siemens Energy

Companhia de Transmissão de Energia Elétrica Paulista – CTEEP (ISA CTEEP)

EDP Energias do Brasil

Associação Brasileira das Empresas de Transmissão de Energia Elétrica – ABRATE

MEZ Energia e Participações


Echoenergia Participações

Grupo Pão de Açúcar – GPA

Exus Partner Holding

Furnas Centrais Elétricas

CPFL Transmissão

Companhia de Geração e Transmissão do Sul do Brasil – Eletrosul

CHESF – Companhia Hidro Elétrica do São Francisco


Newave Geração de Energia

Interligação Elétrica Ivaí

Work highlights

  • Acting for ABRATE in administrative proceedings involving the renewal of transmission concessions.
  • Representing CPFL Transmissão in two lawsuits discussing amounts paid by the national treasury involving the extension renewal of transmission concessions.
  • Representing transmission company CTEEP in four administrative proceedings.

Campos Mello Advogados in cooperation with DLA Piper

Covering both conventional and renewable sources, Campos Mello Advogados in cooperation with DLA Piper undertakes a variety of work in the electricity sector, but is perhaps best known for its involvement in the structuring and negotiation of PPAs, distributed generation structures, tender procedures and M&A transactions involving power assets. Led by Fabiano Gallo, who excels in net metering and self-production projects, the team also includes Marcelo Frazão, who routinely advises on contractual issues related to hydro, wind and solar power, and Alexandre Calmon.

Practice head(s):

Fabiano Gallo

Key clients

Statkraft Energias Renováveis


Gemini Energy


Rio Alto Energia

Scatec Solar

General Electric Company

Banco Santander (Brasil)

Ab Inbev

Grupo Ultra/Ipiranga

Amazon Web Services (Aws)


Faro Energy

Pivô Desenvolvimento Imobiliário

Votorantim Geração De Energia

Barra Energia


Urca Energia


Canadian Solar

Nebras Power Limited

Cobra Group


Work highlights

  • Advised Eneva on the acquisition of CELSEPAR and CEBARRA.
  • Advised Grafito Fundo de Investimento em Participações Infraestrutura (Grafito FIP-IE) on the acquisition of Usina Termoelétrica Pampa Sul by Grafito FIP-IE and Perfin.
  • Assisting EN.IT in the structuring of the 800MW wind farm project in Rio Grande do Sul with the purpose of generating green energy, green hydrogen and green ammonia.

Cescon Barrieu

The ‘dedicated and competent team‘ at Cescon Barrieu is regularly engaged by clients from the generation, transmission, distribution and power trading segments, which seek advice on all manner of issues pertaining to the electricity sector, including M&A, capital markets, tax, litigation and regulatory issues. The group is well versed in the development of joint ventures for distributed generation projects, and often handles self-production mandates on both the generator and consumer side. Founding partner Maurício Teixeira dos Santos maintains a comprehensive practice covering the full array of matters that arise in power projects, with a special focus on renewables and energy transmission. He jointly heads the practice with Alexandre Leal Ribeiro Leite, whose ‘deep knowledge of the electricity sector‘ is rated by clients; Leite takes the lead on regulatory work, and is also active in project finance and development. M&A involving power assets is an area of expertise for Eduardo Lanna.

Practice head(s):

Maurício Santos; Alexandre Leite


‘Dedicated and competent team, with extensive knowledge of the electricity sector.’

‘Alexandre Leite is an extremely competent professional with deep knowledge of the electricity sector. He has a mindset directed towards practical problem-solving and is always available to help in various matters.’

‘Always available and very dedicated to finding innovative solutions to the cases presented. Mauricio Santos and Eduardo Lana are recommended.’

Key clients

Enel X Brasil

Copel – Companhia Paranaense de Energia

AES Brasil Energia

Enel Brasil



Equatorial Energia

Banco BTG Pactual

EDP Energias do Brasil

Banco Santander (Brasil)

Work highlights

  • Advised Kinea as the investor on the financing of a solar power plant held by Usina deEnergia Fotovoltaica Coromandel (Perfin Group) to enable the infrastructure project of Coromandel Power Plants.
  • Assisted Copel Geração e Transmissão in the acquisition of wind power plants SPVs from EDP Renováveis Brasil.
  • Advised AES Brasil Energia on the acquisition of all the shares representing the capital stock of 17 special purpose vehicles organised in three wind complexes, Ventos do Araripe, Caetés and Cassino.

Demarest Advogados

The well-rounded energy and natural resources practice at Demarest Advogados provides ‘outstanding services‘ in the structuring of projects, layered regulatory matters and litigation in the electricity sector. The team of ‘highly qualified professionals‘ is well versed in big-ticket M&A and in the development of generation, distribution and transmission projects, and is also prepared to advise clients on the implementation of self-production and distributed generation structures. Singled out for her ‘distinct sectorial knowledge‘, Rosi Costa Barros steers the team in an array of transactional and regulatory matters related to the power segment. Thaís Tarelho focuses on litigation and non-contentious matters involving power companies. Guilherme Pahl is no longer at the firm.

Practice head(s):

Rosi Costa Barros


‘Outstanding services provided, meeting all expectations regarding knowledge of related topics and diligence in identifying risks and opportunities in the businesses and contracts evaluated.’

‘Rosi Costa Barros: distinct sectorial knowledge, and great interpersonal relationship with the client.’

‘The work developed by the team is of the highest quality, explained by the documents produced, which always address all aspects involving the subject in question.’

‘Demarest’s team is made up of highly qualified professionals, who combine the knowledge of a law firm with the experience of in-house professionals. They are able to provide support in the most varied areas of law, and their professionals are highly integrated, ensuring that they are not isolated silos, but a single office.’

‘Rosi Barros is one of the main partners in the energy sector in Brazil; she is extremely knowledgeable of regulations and cases in the segment, which facilitates any discussions. Thais Tarelho is an exceptional associate, whose previous experience allows her to easily understand the problems faced by companies in order to translate them into high-quality services.’

Key clients

Engie Brasil Energia

Câmara de Comercialização de Energia Elétrica – CCEE

Âmbar Energia

Rubi Energia

Companhia Brasileira de Alumínio – CBA

Energia Sustentável do Brasil – ESBR

Cobra Energia

Companhia Hidrelétrica de Teles Pires

Energética Água de Pedra

CPFL Energia

CERAN – Companhia Energética Rio das Antas

Foz do Chapecó Energia

BAESA – Baesa Energética

ENERCAN – Campos Novos Energia

Quantum (Brookfield)

Aurora Energia

Gold Energia

CTEEP – Companhia de Transmissão de Energia Elétrica Paulista

Equinor Energy do Brasil

Heineken – HNK BR Indústria de Bebidas

Work highlights

  • Advising AEGEA Saneamento on the structuring and implementation of a self-generation power project to supply power to its operational units (sanitation concessionaires).
  • Advised the partners of Vista Alegre on the negotiations for the sale of the totality of its equity interest in Vista Alegre and fourteen of its subsidiaries to Atlas Brasil Energia Holding 3.
  • Advising Navi on partnership agreements with several players for future investments in the development of distributed generation projects.

Dias Carneiro Advogados

Dias Carneiro Advogados is a popular choice for conventional and renewable power companies looking for advice on a variety of transactional, commercial and regulatory issues. Singled out for its experience in agreements for the supply, installation and operation of wind turbines, the practice is also well placed to assist in project finance and development, M&A and commercial contracts covering hydro, thermal and solar energy, distributed generation, and transmission. Specialised in public law, anti-corruption and corporate law, Ricardo Sanches routinely acts for domestic and international clients in relation to project finance, public procurement and regulatory matters pertaining to the Brazilian electricity sector. He oversees the team with Thiago Vallandro Flores, who is proficient in M&A and financing transactions. Paulo Leme is another name to note for transactional work in this space.

Practice head(s):

Ricardo Sanches; Thiago Vallandro Flores


‘The energy team is extremely competent and specialised. They helped us structure the financing of a truly innovative project in the market. Dias Carneiro is a great firm that we have recommended to many of our clients in the energy and natural resources field. It has a very transparent and efficient billing policy, which makes us very comfortable working with them.’

‘Thiago Flores is very committed and involved in the projects. He has a lot of knowledge of the market and values the quality of the services provided.’

Key clients


EDP Renováveis Brasil

Inter-American Development Bank

Inter-American Investment Corporation

Trina Solar

Vestas Wind Power

Vestas Power Development

Voltalia Group

International Finance Corporation


Eólica Araruna

Ybytu Empreendimentos de Energia

Albioma Participações do Brasil

Work highlights

  • Assisted IDB and IDB Invest on the granting of a $243m loan facility to a company incorporated under the laws of Brazil, to be ultimately controlled by Equinor New Energy, Hydro Rein Invest and Scatec.
  • Assisted Albioma in the acquisition of six operational companies held by GreenYellow, active in the photovoltaic energy sector in the southeast, northeast and central Brazil.

Edelstein Advogados

Praised for its in-depth knowledge of the electricity market, boutique Edelstein Advogados is entirely dedicated to the energy and natural resources sectors. Clients from across all power segments turn to the firm for assistance in tenders, regulatory matters and administrative proceedings before the National Electric Energy Agency (ANEEL), the Electric Trading Chamber (CCEE) and the Ministry of Mines and Energy (MME). The team is skilled in the structuring of generation projects for trading in the regulated and free market, and is also well versed in self-production matters involving conventional and renewable sources. In São Paulo, André Edelstein, who possesses over two decades of experience in the energy sector, jointly leads the team with Ana Clara Toledo Brito, whose ‘excellent knowledge of Brazilian energy legislation’ is noted by clients. Fellow co-head Gabriel Faria Bernardes is based in San Francisco. Other key individuals include João Paulo Gusmão in Brasília and Rodrigo Rodi, who is based in the São Paulo office.

Practice head(s):

André Edelstein; Ana Clara Toledo Brito; Gabriel Faria Bernardes


‘The Edelstein team has in-depth knowledge of legal issues regarding energy in Brazil. They come up with new approaches to solve problems in a bolder way.’

‘André Edelstein: he is always up-to-date with news and trends that impact the energy sector in Brazil.’

‘Ana Clara Britto: In addition to her excellent knowledge of Brazilian energy legislation, she has a very good and agile research capacity, which allows her to carry out correlations and applications that are truly innovative and assertive.’

Key clients

European Energy

Raízen Energia

Órigo Energia

EDP São Paulo Distribuição de Energia

Ômega Energia

Micropower Energia

Cobra Brasil Serviços, Comunicações e Energia

Associação Brasileira de Energia Solar Fotovoltaica (ABSOLAR)

Cloud HQ

EDP Renováveis Brasil

Aliansce Sonae Shopping Centers

Equinox Gold

Sterlite Power

Companhia Siderurgica Nacional – CSN

InterCement Brasil

2W Energia

Matrix Comercializadora de Energia Elétrica

GD Sun

Copérnico Energias Renováveis

Delta Indústria Cerâmica

Fotowatio Renewable Ventures

Associação Brasileira de Geração de Energia Limpa – ABRAGEL

Nebras Power


EDF EN do Brasil

ENC Energy

Proton Energy

Associação Paulista das Cerâmicas de Revestimento (ASPACER)

Rhodia Brasil

Ibereólica Renováveis do Brasil

Work highlights

  • Advised Órigo Energia on obtaining the recognition by ANEEL of the legal compliance of the structuring of various distributed generation projects.
  • Assisted ABSOLAR in the plea with governmental authorities for the reduction of taxation on storage equipment.
  • Advised Cloud HQ on all the regulatory aspects related to two new data centre plants whose energy consumption will be around 210MW and 55MW.

Julião Coelho Advocacia

Julião Coelho Advocacia has well-established credentials in the electricity sector, where it assists clients across the entire value chain in complex regulatory and contentious matters. The firm fields a specialised team made up of practitioners with a strong background at ANEEL, who are well equipped to assist clients from the power generation, transmission, distribution and trading segments before the superior courts. Praised for his ‘strategic vision‘, Julião Silveira Coelho has ‘extensive experience in the power sector‘, having represented major energy players before the federal courts and ANEEL. Managing partner Camila Alves Angoti de Moraes has recently acted in cases involving new technologies in the solar and energy storage sector. Pedro Henrique Maciel Fonseca steers the team on several high-profile litigation matters. Guilherme Leite Chamum Aguiar and Marcos Serejo de Paula Pessoa are other names to note for administrative and judicial cases.

Practice head(s):

Julião Silveira Coelho; Camila Alves Angoti de Moraes; Pedro Henrique Maciel Fonseca


‘The firm stands out in the market, given its high specialisation in energy law. Allied to the qualifications of the main partner, the firm’s team, made up of qualified professionals – both technically and in the relationship with clients – has proved to be extremely efficient and effective in the Brazilian legal context.’

‘Camila Alves and Julião Coelho – partners of the firm – are highly intelligent and insightful professionals, who propose innovative legal solutions.’

‘One of the biggest specialised firms in the electricity sector in Brazil. The team is extremely qualified and attentive to normative and regulatory innovations, always proposing to the client the adoption of measures that guarantee greater efficiency.’

‘Julião Coelho has extensive experience in the power sector. He is accessible, but the client feels secure in being attended to by other members of the firm, including Guilherme Chamum and Pedro Fonseca, who serve us equally with agility and technical quality.’

‘The firm stands out for the proximity of its lawyers to the client, easy communication and immediate response to requested information. The technical capacity in defining the best strategy is another point that makes the firm stand out from the rest.’

‘Julião Coelho is always approachable and available to discuss processes and strategies. In addition to being very polite and intelligent, his strategic vision in conducting each case differentiates him from other lawyers. Guilherme Chamum and Pedro Fonseca are also recommended.’

Key clients

Companhia Brasileira de Alumínio (CBA)

Associação Brasileira dos Comercializadores de Energia (ABRACEEL)

COPEL Geração e Transmissão

CPFL Energia

ELERA Renováveis

ENEL Brasil


CGN Brazil Energy

ENGIE Brasil Energia

Âmbar Energia

Auren Energia

FURNAS Centrais Elétricas

AES Tietê Energia



Associação Brasileira de Geração de Energia Limpa (ABRAGEL)

Atlas Renewable Energy

BTG Pactual

Contour Global

Equatorial Energia

Work highlights

  • Representing Light in a dispute against ANEEL following its decision to launch an Extraordinary Tariff Revision that would force the client to use proceeds from tax credits granted by the government for reducing prices charged to consumers.
  • Defending RGE Sul Distribuidora de Energia in two identical class actions filed by ICDESCA, claiming the refund of all tax credits obtained by RGE in a final and unappealable lawsuit.
  • Defending Norte Energia in a class action filed by the Attorney General’s Office that granted an injunction which resulted in a 40% reduction in the level of electricity generation by Belo Monte hydroelectric power plant on the basis that less water should be deviated to the power plant.

Lefosse Advogados

Rated for the ‘high technical knowledge, creativity and availability‘ of its partners, Lefosse Advogados has an active presence in the electricity space, advising on corporate matters, business transactions, litigation and proceedings before ANEEL. In addition to its robust M&A credentials, the team also handles a steady flow of project structuring matters, with a proven track record in the distributed generation and self-production segments. Raphael Gomes, who is entirely devoted to mandates in the energy and infrastructure spaces, coordinates the practice, which also features Pedro Dante, a key contact for power regulatory issues and energy purchase agreements. Recently promoted partner Bruno Crispim, who has a relevant background at the Chamber of Commercialisation of Electric Energy (CCEE), handles a mix of litigation, M&A, project development and regulatory mandates, while senior associate Renato Edelstein is active in administrative proceedings, distributed generation projects and contractual issues.

Practice head(s):

Raphael Gomes


‘Availability and updated view with respect to market trends.’

‘Raphael Gomes and Pedro Dante stand out.’

‘High technical knowledge, creativity and availability.’

Key clients

Banco Genial

Norte Energia

AES Brasil


Unipar Carbocloro – AES

Aliança Geração de Energia

Smart Fit

Ultragaz Energia

Pátria Investimentos

Ferro e Ligas da Bahia – Ferbasa

Mosaic Fertilizantes

Pontoon Energia

Work highlights

  • Advised BNDES and Banco Genial on the process of the privatisation of Eletrobras.
  • Assisted Norte Energia in the filing of a lawsuit against ANEEL involving the delay of the implementation of the Belo Monte hydroelectric plant.
  • Assisting AES Brasil in the filing of a lawsuit against ANEEL for the recognition of the right to change the schedule of projects in the Free Energy Market.

Lobão Cosenza, Figueiredo Cavalcante Advogados

The ‘extremely qualified team‘ at Lobão Cosenza, Figueiredo Cavalcante Advogados is well placed to advise a balanced array of stakeholders engaged in M&A, administrative and regulatory proceedings, judicial litigation and contractual matters. The practice, which continues to attract instructions from the generation, transmission, trading, distributed generation and renewable energy segments, has been increasingly active in mandates involving solar power plants, transmission lines and the carbon market. The department is under the joint leadership of the highly regarded Caio Figueiredo Cavalcante and Tiago Lobão Cosenza, the latter of whom excels in power regulatory matters. Valéria de Souza Rosa and Maria Júlia Menezes de Toledo Florencio, a seasoned lawyer in the development of energy projects and M&A in the power sector, are other key members.

Practice head(s):

Caio Figueiredo Cavalcante; Tiago Lobão Cosenza


‘Extremely qualified team, understands the desires of the client and delivers tailor-made advice.’

‘Firm with a very capable team and specialist in the niche in which they operate.’

‘Tiago Lobão Cosenza, Maria Júlia Florêncio and Valéria de Souza Rosa are recommended.’

Key clients

Linhas de Macapá Transmissora de Energia

ABRATE – Associação Brasileira das Empresas de Transmissão de Energia Elétrica

Mercury Renew Participações

Gemini Energy

Alupar Investimento

Celeo Redes Brasil

TBE – Transmissoras Brasileiras de Energia

Engie Brasil Energia

Infinito Energy Investimentos e Participações

Diamante Geração de Energia

Sistema de Transmissão Nordeste

Enercom Energias Renováveis

Associação Brasileira da Infraestrutura e Indústrias de Base – ABDIB

Cobra Brasil Serviços, Comunicações e Energia

Energía Aljaval

Trasmissora de Energia Ribeiro Goncalves Balsas SPE

PROCME – Gestão Global de Projetos

ENERFIN do Brasil

Painitec Energia

Starboard Restructuring Partners

Work highlights

  • Acted for Cobra in the filing of a lawsuit against ANEEL involving the acquisition of solar power projects.
  • Advising Sistema de Transmissão Nordeste (STN) on a matter before ANEEL.
  • Acting for Diamante Geração de Energia in an administrative action before ANEEL involving the reimbursement of coal used for the generation of energy.

Machado Meyer Sendacz e Opice Advogados

With strong credentials in administrative, corporate and commercial law, Machado Meyer Sendacz e Opice Advogados‘ power group combines robust transactional capabilities with extensive experience in project implementation and litigation. Typical instructions see the team advising on energy auctions, commercial contracts, including engineering, procurement and construction (EPC) agreements, as well as financing and M&A deals in the traditional generation and renewable energy segments. The latter is a growing area of focus for the department, which is active in wind, solar and biomass, and has recently played a key role in the structuring and financing of self-production by equivalence projects with PPAs indexed to US dollars. Concessions, privatisations and project finance are all areas of expertise for Ana Karina Esteves de Souza, who jointly heads up the team with Laura Souza, who is knowledgeable of matters involving the generation, distribution, transmission and trading segments, and recently promoted partner Paulo Machado, who focuses on regulatory issues, project finance and development. Senior associate Heloisa Zerbinatti Sato specialises in administrative law in the electricity sector, which is also a core area of activity for Luisa Rodrigues, while Lair Loureiro is skilled in projects and M&A in this space.

Practice head(s):

Ana Karina Esteves Souza; Paulo Machado; Laura Souza

Key clients

Gezhouba Group (CGGC)

GD Sun

Acciona Energia

State Power Investment Corporation

China Three Gorges Brasil



State grid


Vinci Partners

Vale S.A.


Pec energia

Mitsui & Co.

Total Eren


Athon Energia

Essentia Energia

Rio Tinto

Arcelor Mital

Casa dos Ventos

Xp Investimentos

Banco Santander

Itaú BBA

BNP Paribas

AES Tiete


Servtec Energia

Comerc Renew

Work highlights

  • Advised TotalEnergies on the creation of a joint venture to develop, build and operate the renewable portfolio of Casa dos Ventos.
  • Acted as legal counsel to Global Infrastructure Partners in the acquisition of 100% of Actis’s energy stake in Atlas Renewable Energy.
  • Advising Green Investment Group —a Macquarie Group investment fund focused on creating green infrastructure — on the formation of a joint venture with Norsk Hydro for the construction and operation of power projects.

Madrona Fialho Advogados

The infrastructure, regulatory and public law team at Madrona Fialho Advogados offers a ‘personalised, high-quality and quick service‘ to clients seeking advice on a multitude of power matters, ranging from transactions to contracts and litigation. Rodrigo Machado leads assistance to clients from regulated sectors, bringing together considerable experience in M&A involving power assets, self-production structures, project implementation and regulatory proceedings. He manages the team with Rodrigo Barata, who joined from the São Paulo State Transport Agency (ARTESP) in August 2022. The team was further strengthened by the arrival of senior associate Felipe Zaratini from Cescon Barrieu in December 2021; he focuses on development matters in the power sector, with a special emphasis on renewable generation projects.

Practice head(s):

Rodrigo Machado; Rodrigo Barata


‘Madrona Advogados manages to provide a personalised, high-quality and quick service. I requested many urgent demands and the quality of the work was always excellent. Their knowledge of the legislation sets them apart.’

‘Skilled in M&A negotiations. Excellent client service.’

‘Rodrigo Machado is recommended.’

‘Responsiveness; availability; technical capacity; innovative proposals; common sense in service pricing.’

‘Rodrigo Machado and Felipe Martins Zaratini are highly trained professionals, respectful, calm in difficult negotiations, and agile in all responses. They propose solutions and always know which side they are on.’

Key clients

AUREN Energia (Formerly known as Votorantim Energia)

EDP Energias Do Brasil

European Energy


CTG Brasil

Banco BTG

Companhia Brasileira De Alumínio – CBA

Grupo CPFL

Gerdau Aços Longos

Usina Açucareira São Manoel


Iguá Saneamento

Work highlights

  • Assisted Auren Energia (Votorantim Group) in the renegotiation of the hydrological risk of seven hydropower plants which are jointly controlled with other agents and trade energy in the free trading environment.
  • Advised Gerdau Next on the acquisition of a holding controlled by investment funds and created by Newave (controlled directly by XP Investimentos) to develop renewable energy generation projects.
  • Advised EDP Energias do Brasil, as controlling shareholder of Energest, on the acquisition of HPP Mascarenhas and on the transfer of control proceeding before ANEEL.

Magalhães, Reis & Figueiró Advogados

A varied client roster including utilities, traders, utilities and power producers turns to Magalhães, Reis & Figueiró Advogados for assistance with an array of regulatory matters, including administrative proceedings before ANEEL, MME and CCEE. The group, which is highly regarded in the market for its regulatory expertise, is regularly seen advising on bidding processes, legislative matters and industry-specific contracts. Gerusa Magalhães is ‘deeply knowledgeable of electricity sector regulations and energy law‘, and often participates in regulatory discussions in this space. She manages the group with Cristiana Reis and Marcela Figueiró, the latter of whom acts for both domestic and foreign clients in M&A and project finance.

Practice head(s):

Gerusa Magalhães; Cristiana Reis; Marcela Figueiró


‘The team’s deep technical knowledge of the electricity sector and energy law, the firm’s reputation with the regulatory agency and other sectoral institutions and the extreme cordiality of the team make working with the firm very pleasant and desirable.’

‘Gerusa Magalhães is a brilliant lawyer, who, in addition to being deeply knowledgeable of electricity sector regulations and energy law, is extremely articulate and dedicated, attentive to the details of the cases in which she works on and results-oriented.’

Key clients

Grupo Energia Bogotá, ESP

Mattos Filho

Mattos Filho maintains a dominant position in the electricity market, having handled some of the largest projects and transactions in Brazil in recent years. In addition to the team’s unrivalled M&A capabilities, its practitioners are also seasoned in financing and capital markets deals, privatisations, regulatory matters and litigation. A go-to destination for power producers, distribution and transmission companies, traders, service providers and financiers, the department has recently experienced an uptick in mandates concerning US dollar-indexed power purchase agreements (PPAs), self-production and renewable energy projects. The group also offers representation in administrative proceedings before the Ministry of Mines and Energy and the main regulatory agencies in the country, including ANEEL. Fabiano Ricardo Luz de Brito is a prolific advisor in regulatory and transactional matters in the power sector, where he acts for clients across the entire value chain. Sofia Barbosa, who is highly recommended by clients, balances a broad practice in this space, handling matters across the generation, transmission, distribution and trading segments. Associate Bárbara Mendes Carnevalli excels in regulatory issues pertaining to the power industry.


‘Sofia Barbosa is our go-partner for PPAs. She is an extended function of our in-house team.’

‘We trust Sofia unconditionally. She knows the market and our team. I would trust her to negotiate on behalf of our company without even attending a meeting. She is simply fantastic.’

Key clients

Câmara de Comercialização de Energia Elétrica – CCEE


Banco Nacional de Desenvolvimento Econômico e Social – BNDES

AES Tietê Energia

Equatorial Energia

Norsk Hydro

Hydro Rein

Albras – Alumínio Brasileiro

Atem’s Distribuidora de Petróleo

Atlas Energia Renovável do Brasil

Galp Energia SGPS

Pan American Energy Energias Renováveis


Echoenergia Participações

EDF EN do Brasil Participações

Elera Renováveis (Brookfield Renováveis)

Brookfield Asset Management

ABRADEE – Associação Brasileira de Distribuidores de Energia Elétrica

Gás Natural Açu (GNA)


Equinor Energy Ventures Fund

J. Malucelli Energia

Comerc Participações

Atiaia Energia

Neoenergia Renováveis

Mainstream Renewable Powers

Acciona Energia Chile

Victory Hill Capital Group

Macquairie Asset Management’s Green Investment Group

PEC Energia

CEIBA Group (Portocem and Breitener)

Vitol Group

Corumbá Concessões


Raízen Energia

UTE Bioenergia Paraguaçu


Celeo Redes Brasil

Dislub-Equador Group

Work highlights

  • Assisted the underwriters in the primary and secondary global public offering of common shares by Centrais Elétricas Brasileiras (Eletrobrás), which raised approximately R$33.7bn.
  • Assisting BNDES on the structuring and implementation of the model approved by the Council of the Investment Partnerships Program (CPPI) for the construction, maintenance and operation of Angra 3.
  • Assisted Equatorial Energia in the acquisition of electricity distributor CELG Distribuição from Italian energy group Enel for R$1.6bn.

Melcheds - Mello e Rached Advogados

Melcheds - Mello e Rached Advogados has expertise in assisting clients in energy auctions promoted by ANEEL in the regulated market, but it adds particular value on the negotiation of project implementation and development agreements, and M&A transactions involving power assets. The team stands out for its presence in the renewable energy market, showcasing particular strength in solar projects. Founding partner Rodrigo Mello takes the lead on transactional work, an area in which Fernanda Passos is another name to note. Associate Christiano Dias Lopes advises a host of energy companies on the structuring and negotiation of agreements for the implementation of solar photovoltaic projects in the regulated and free markets.

Practice head(s):

Rodrigo Mello; Fernanda Passos

Key clients

Sungrow Do Brasil Representação Comercial, Instalação E Manutenção De Equipamentos

Zimba Evolvere Energia

Infinity Do Brasil Comercializadora De Energia

Phenom Capital Group


Sungrow Power Hong Kong

Power Tree – UK

Santander Brasil



MB Engenharia

Work highlights

  • Advising Sungrow do Brasil on the drafting, analysis, negotiation and review of a solar inverter supply agreement to be executed with Mercury Renew.
  • Assisting Hefei Sungrow Renewable Energy in the incorporation of a Brazilian company.
  • Provided legal assistance to the energy trade desk of Santander Brasil in the analysis and negotiation of all its power purchase agreements (PPAs).

Mundie e Advogados

With over two decades of experience in the power sector, Mundie e Advogados has a core focus on regulatory matters, and can regularly be found providing support to private and public sector clients in relation to proceedings before regulatory agencies and governmental bodies. Also noteworthy is the team’s activity in power purchase agreements and contractual matters. Rafael Fabbri D’Avila is a seasoned practitioner in administrative proceedings and contractual issues involving the power sector. He spearheads the department, receiving key support from associate Nathalya François, who stands out for her knowledge of the generation and transmission segments.

Practice head(s):

Rafael Fabbri D’Avila

Key clients

Pacífico Energia

Galapagos Capital

Panorama Energia

Renova Energia

Origem Energia

Costa Verde Energias Renováveis

Rio Amazonas Energia – Raesa

BTG Pactual

Termelétrica Viana

Linhares Geração

Equatorial Transmissão

CPFL Distribuidora


BEP Comercializadora de Energia Elétrica


Junhe LLP

Gera Amazonas

Gera Maranhão

Máxima Energia

Tropicália Transmissão

Pequena Central Hidrelétrica Rio do Braço

Nova Energia

Esfera Energia

Work highlights

  • Advised BTG Pactual and affiliates on the implementation of the power plants selected at the emergency power auction (the so-called Procedimento Competitivo Simplificado –PCS).
  • Advised Linhares Energia and Termelétrica Viana on several regulatory matters.
  • Advised Equatorial Energia on several regulatory matters.

Pinheiro Neto Advogados

Pinheiro Neto Advogados fields an energy team made up of seasoned practitioners in regulatory discussions, M&A, auctions and privatisations in the electricity sector. Drawing on the firm’s strong tax, environmental and real estate offerings, the group acts for a mix of investors and international corporations from the generation, distribution and transmission segments, as well as power trading companies, large consumers and financiers. High-value M&A involving power assets, distributed generation and self-production by equivalence projects feature heavily in the team’s workload, which also includes proceedings before ANEEL. With over two decades of experience in the energy sector, José Roberto Oliva Júnior stands out for his impressive track record in project finance, M&A and regulatory matters in the power sector; his expertise encompasses traditional and renewable sources, and he is regularly mandated by utilities, trading companies, and equity and debt investors. Senior associate José Carlos Altomari Teixeira offers key support in power-related M&A, complex contracts and administrative litigation.

Key clients

Banco do Brasil

Banco Bradesco

Banco Santander (Brasil)

Itaú Unibanco

Banco Nacional De DesenvolvimentoEconômico E Social – BNDES

Banco Citibank

Banco Votorantim

Banco Safra

Banco de Investimentos Credit Suisse

Banco Sumitomo Mitsui Brasileiro

Banco ABC Brasil


China Construction Bank Banco Múltiplo

Banco Alfa de Investimento

Bracell SP Celulose and UTE Bracell


Contour Global do Brasil Participações

Work highlights

  • Advised all major banks in Brazil on the credit facility known as “Conta-Covid”, a mechanism created by the Federal Government to mitigate the impacts of the economic crisis caused by the Covid-19 pandemic on the electricity sector.
  • Assisting Bracell in a case before ANEEL regarding the regularisation of the connection to the power grid of heavy power consumers of Bracell’s industrial complex.
  • Assisted Caisse de dépôt et placement du Québec in the direct acquisition of 100% of the capital stock of five power transmission companies, headquartered in Brazil, Peru, and Uruguay, owned by Terna Plus and Terna Chile.

Rolim Goulart Cardoso Advogados

Singled out for its longstanding experience in sophisticated regulatory matters, Rolim Goulart Cardoso Advogados has a strong reputation in the Brazilian electricity market, where it acts for players across the generation, transmission, distribution and trading segments. Administrative proceedings before ANEEL, judicial litigation and arbitrations are key pillars of the practice, which is often instructed by concessionaires in tariff review procedures. The group is well positioned to handle renewable and alternative energy generation mandates, most notably wind and bioenergy, and is also recognised for its prowess in distributed generation projects. Veteran energy lawyer Maria Joao C.P. Rolim, who splits her time between São Paulo and Lisbon, possesses a wealth of experience in regulatory matters pertaining to the power sector. Helvécio Franco Maia Júnior and Vitor Sarmento De Mello are the main contacts for litigation before federal and state courts in Rio de Janeiro and Belo Horizonte, respectively. Lisbon-based lawyer Alice de Siqueira Khouri coordinates the firm’s regulatory department and oversees the firm’s Brazilian desk in Portugal.

Practice head(s):

Maria João C. P. Rolim; Vitor Sarmento de Mello; Helvécio Franco Maia Júnior

Key clients


The Brazilian National Grid Operator (ONS)

Cemig Distribuição

Norte Brasil Transmissora de Energia

ArcelorMittal Brasil

AngloGold Ashanti

Companhia de Transmissão de Energia Elétrica Paulista (CTEEP)


Associação Brasileira de Veículos Elétricos (ABVE)

Holding Evoltz

Work highlights

  • Assisted Helexia in the signing of a new contract with Vivo, which involves the production of an additional 27MW to supply the operator’s facilities through eight new photovoltaic units.
  • Represented Mantiqueira Transmissora in both administrative and judicial disputes involving the licensing of a project.
  • Elaborated a legal opinion for ABVE (Associação Brasileira de Veículos Elétricos) involving the analysis of the current regulatory environment in the electric recharge market at the three levels of government.

Schmidt, Valois, Miranda, Ferreira & Agel Advogados

Under the joint leadership of Guilherme Schmidt KC and Alexei Macorin Vivan, the energy and renewables team at Schmidt, Valois, Miranda, Ferreira & Agel Advogados attracts instructions from investors, operators, financial institutions and large consumers. With a strong understanding of development and financing issues, the group provides comprehensive services covering green and brownfield projects, and concessions in the transmission and generation segments. Clients also turn to the team for guidance in the sale of energy on the free market and representation in administrative cases before ANEEL and the Ministry of Mines and Energy.

Practice head(s):

Guilherme Schmidt; Alexei Macorin Vivan


‘The leadership and experience of Alexei Vivan in the energy sector. Pedro Serafim is also a reference.’

Key clients



Prumo Logística

Air Products

Grupo CCR

Moncarlo Participações

Florestas Do Paraná Energia

Vpower Group

VP Flexgen Brazil SPE

MPE Engenharia

Gentermo Participações

Aquidauana Energy

Gilbarco Veeder Root

Edp Energias Do Brasil

Campos Novos Energias– Enercan

Copa Energia


Isa Cteep Cia. De Transmissão De Energia Elétrica Paulista

Cia Paranaense De Energia – Copel

Associação Brasileira Das Empresas De Transmissão De Energia Elétrica – Abrate

Associação Brasileira De Distribuidores De Energia Elétrica – Abradee

Spic Brasil Energia Participações

Karpowership Brasil

Ambar Energia

Work highlights

  • Assisted Moncarlo in the development of a shared distributed generation project, comprising the implementation of three small hydroelectric power plants.
  • Assisted EDP Energias do Brasil in the acquisition of distributed generation projects and operation of AES Brasil.
  • Assisted VP Flexgen Brazil in its participation in power auctions.

Sergio Bermudes Advogados

Sergio Bermudes Advogados, which occupies a leading position in the Brazilian dispute resolution market, is a strong performer in high-profile disputes within the power sector, handling proceedings at the administrative, judicial and appellate levels. Based in Rio de Janeiro, the team is recurrently sought out by electricity concessionaires and other industry players in contentious matters arising from power agreements, projects and regulatory issues, and is also adept at assisting clients in project approvals. Practice co-leader Marcio Vieira Souto Costa Ferreira, whose experience in dispute resolution surpasses three decades, is one of the main points of contact for companies operating in regulated sectors, including electricity. Fellow co-head Vítor Ferreira Alves De Brito is entirely devoted to power mandates, showcasing expertise in complex regulatory matters. Frederico Ferreira is another name to note for high-stakes contentious matters in this space.

Practice head(s):

Vitor Ferreira Alves de Brito; Marcio Vieira Souto Costa Ferreira


Always available and very dedicated to finding innovative solutions.

‘I’d highlight Marcio Vieira Souto Costa Ferreira and Vitor Alves de Brito. ’

Key clients

CCEE – Câmara de Comercialização de Energia Elétrica

ABRADEE – Assoc. Brasileira dos Distribuidores de Energia Elétrica









Work highlights

  • Represents Abradee in a declaratory action brought by Santo Antonio Energia against ANEEL.
  • Representing Vibra Energia in a R$8bn dispute filed by Grupo Forte.
  • Represented ABIAPE in a direct action for unconstitutionality.

Siqueira Castro – Advogados

At Siqueira Castro – Advogados, the energy department has the ability to assist in a wide range of conventional and renewable power matters, but particularly excels in regulatory proceedings and administrative litigation before ANEEL. The practice experienced a change in leadership following the departure of David Waltenberg in October 2022. It is now jointly led by two partners: Eduardo Evangelista, a name to note for generation, transmission and trading companies seeking advice on compliance, as well as administrative and judicial disputes; and Humberto Negrão, who focuses on public law matters. Pedro Monti Schönberger stands out at the associate level for his experience in regulatory matters, including CCEE’s trading rules and Brazil’s national grid operator ONS’s grid procedures.

Practice head(s):

Eduardo Evangelista; Humberto Negrão


‘Remarkable technical quality in the subject, ability to clarify doubts with objectivity. Manages to measure the possible risks, and achieve great successes.’

‘Humberto Negrão and Eduardo Evangelista speak with authority on the subject, which brings security to the possible decisions to be taken by the client.’

Key clients

CEI – Companhia Energética Integrada

Central Fotovoltaica Irupé Participações

General Motors do Brasil Ltda.


Unipar Carbobloro

Votu Winds Energia Eólica

Mineração Rio do Norte

Work highlights

  • Retained by Central Fotovoltaica Irupé Participações to analyse the regulatory authorisations necessary for development of floating solar power plant projects.
  • Advising Votu Winds Energia Eólica on the implementation of an offshore wind project in federal government-owned sea areas.
  • Assists General Motors do Brasil, which is seeking to connect its industrial unit in Gravataí to the basic grid.

Souto Correa Advogados

Souto Correa Advogados houses a ‘specialised team‘ comprised of practitioners with considerable experience across all power segments. The team showcases a strong focus on assisting clients in the structuring of projects, bringing together expertise in related contractual, regulatory, tax and environmental matters, and is also well equipped to handle complex administrative proceedings and litigation. Distribution generation and renewable projects – especially in the wind and solar power space – also feature in the firm’s diverse workload, which has been increasingly populated by M&A involving electricity assets. Arthur Lardosa is a name to note for administrative and constitutional law, with a special emphasis on gas-to-wire and renewable projects, while Edoarda Victer Leta is routinely engaged in asset acquisitions and project development in the renewables segment. Former practice heads Livia Amorim, Fabio Di Lallo and Juliana Melcop left the firm in September 2023.


‘Team specialised in the subject.’

‘The partner and associates are extremely technical and focused on finding solutions for the cases they handle.’

‘Great legal and regulatory knowledge, which sets it apart from other market professionals.’

Key clients

Omega Energia

SOL Copérnico

ERTE – Empresa Regional de Transmissão de Energia

EBTE – Empresa Brasileira de Transmissão de Energia

Yinson Acacia

Ernest&Young (for ABRACEEL)

GDSUN (Franklin Servtec Energia FIP)

Sinop Energia (EDF, Eletronorte and CHESF)

Sou Vagalume

Mori Energia Holding

Sistema de Transmissão Nordeste – STN

Alupar Investimento

Mercury Renew Participações

Atvos Agroindustrial

Centrais Eólicas Babilônia

CPFL Energia

Enel Brasil

Força dos Ventos Energia Eólica

GV do Brasil Indústria e Comércio de Aço

Johnson & Johnson

Monex Energia

Nextron Energias Renováveis

Raízen Energia

BP Comercializadora de Energia

Keppel Singmarine Brasil

OnCorp (Usina Xavantes)

Hydro Rein Brasil Soluções Renováveis

Banco BTG Pactual

Comerc Comercializadora de Energia and Comerc Energia

Perfin Asset Management

Irani Papel e Embalagem

Complexo Industrial e Portuário do Pecém – CIPP

Brasal (Verde 2 Energética)

Aldo Componentes Eletrônicos

Work highlights

  • Acted for Omega, which celebrated deals with M Dias Branco and Eurofarma, aimed at selling electricity for self-consumption.
  • Responsible for structuring and developing distributed generation projects for SOL Copérnico throughout the country.
  • Represented Mori before ANEEL through an administrative pleading, requesting the application of precautionary measures and seeking the suspension of the Distribution System Use Charges (EUSDs) under contracts entered with Cemig Distribuição.

Stocche Forbes Advogados

Stocche Forbes Advogados undertakes a variety of transactional work in all electricity segments, but is perhaps best known for its involvement in big-ticket financing, capital markets and corporate deals within this space. Typical mandates for the team, which works in close collaboration with the firm’s tax, environmental, real estate, compliance and labour practices, also include advising Brazilian and foreign companies in public tender processes and regulatory matters. The group is jointly led by a trio consisting of Rio de Janeiro-based partners Frederico Moura and Bruno Gandolfo, both of whom specialise in financing transactions and M&A, and administrative law expert Mariana Saragoça in São Paulo.

Practice head(s):

Frederico Moura; Bruno Gandolfo; Mariana Saragoça


‘The firm has a team with deep legal and sector technical knowledge; attentive, accessible and friendly professionals.’

‘Firm with a solid structure and dedicated professionals deeply involved in the clients’ business.’

‘Bruno Gandolfo transcends the figure of a mere legal advisor, acting as a true business partner.’

Key clients

State Grid Brazil Holding

Votorantim Energia and VTRM Energia e Participações

Engie Group

Equatorial Energia

Celse – Centrais Elétricas De Sergipe

EDF Norte Fluminense and its Subsidiaries

EDF Renováveis

Omega Group

Patria Investimentos

Energisa Group

Auren Energia




Cymi Group and Its Subsidiaries

Elera Renováveis

Qair Group and Its Subsidiaries

Vibra Energia (former Petrobras Distribuidora)


GIC Private Limited

CPP Investments

Work highlights

  • Advised a subsidiary of Patria Investments on the acquisition of 100% of the capital shares issued by Contour Global do Brasil Participações.
  • Advised Votorantim on a corporate reorganisation to consolidate the business of development and generation of renewable energy in order to create Auren Energia.
  • Advised Vibra Energia on the acquisition of a 50% stake in Comerc Participações.

Tauil & Chequer Advogados

A top choice for guidance throughout the life cycle of a power project, Tauil & Chequer Advogados acts for a wide range of clients active in all segments of the industry, including generation, transmission and distribution companies, traders, large consumers and service providers. With solid credentials in both transactional and contentious matters, the firm has had a prominent role in the structuring of the privatisation of Eletrobras, Latin America’s biggest power utility company, through its engagement by the Brazilian Development Bank (BNDES). The group has recently expanded its presence in the M&A space, where it has increasingly advised on deals involving renewable and conventional power generation and transmission assets. Self-production projects are another area of growth for the team, which has been retained by developers and large consumers alike. Domestic and international clients turn to Rio de Janeiro-based partner Débora Yanasse for her ‘deep knowledge of the sector‘ and strong track record in projects, M&A, auctions and regulatory issues. Bruno Salzano, whose cross-border M&A expertise is noteworthy, and Bruno Werneck are key individuals in São Paulo. In the same office, associate Julia Braga handles both transactional work and administrative proceedings, while Bruno Ribeiro in Rio focuses on infrastructure and energy projects.

Practice head(s):

Débora Yanasse


‘The firm has partners with a lot of knowledge in their respective areas, who are already used to dealing with the needs of the sector.’

‘Débora Yanasse knows how to anticipate the client’s needs, has a deep knowledge of the sector and the business of her clients, transmitting confidence in all analyses and deliveries.’

Key clients








Atlas Renewable Energy

Acciona Energía





Ceiba Energy

Caisse de Dépôt et placement du Québec – CDPQ

Enel X


Ibitu Energias Renováveis

Dow Chemical

Vinci Partners

Fram Capital


CER Energia

Rio Energy

GE Financial Services



Starkraft Energias Renováveis


EDP – Energias do Brasil

EDF Norte Fluminense



Mercury Renew

Nebras Power

Elera Renováveis

TYR Energia


PEC Energia

Energia Sustentável do Brasil

Mercury Renew

Mitsui & Co


Work highlights

  • Advised BNDES on structuring the privatisation of Centrais Elétricas Brasileiras – Eletrobras.
  • Assisting the Turkish Karadeniz Group in its debut in the Brazilian power industry.
  • Assisted Atlas Renewable Energy in the acquisition of special purpose vehicles that own the rights to develop a solar power project called Vista Alegre in the state of Minas Gerais.

TozziniFreire Advogados

Highly qualified and dedicated professionals‘ make up TozziniFreire Advogados‘ energy team, which is adept at assisting clients from the generation, transmission, distribution and trading segments, as well as institutional investors and large consumers in a broad spectrum of transactional matters in the power sector. The department has considerable experience in industry-related stock and asset deals, and is often engaged in the structuring and implementation of distributed generation and self-production projects. Also noteworthy is the group’s strong performance in the renewable energy space, covering biomass, biomethane, wind and solar power. Leonardo Miranda, who combines corporate and regulatory expertise, is seen with great regularity advising on M&A deals in the power sector. Ana Carolina Katlauskas Calil, who has in-depth knowledge of long-term PPAs and self-production structures, and Karin Yamauti Hatanaka, who is skilled in project finance, are also part of the core team.

Practice head(s):

Leonardo Miranda


‘Dedication, availability and knowledge of the sector in relation to projects work.’

‘The professionals that make up TozziniFreire’s Infrastructure team are highly qualified and dedicated. They care not only about the quality of the work, but also about the treatment of the client, which contributes to the matters flowing in a positive way, even in the face of conflict scenarios and high-level technical discussions.’

‘TozziniFreire offers an E2E service that covers from developing our in-house capabilities in critical areas for the company, to mitigating risks and negotiating complex contracts and litigation.’

‘Ana Calil provides fundamental inputs to the heavily regulated Energy market, and approaches matters with an open mind to understand our needs. She has deep expertise in this area and is a true team player.’

‘Leonardo Miranda is recommended.’

Key clients

Grupo Energía de Bogotá – GEB

Argo Energia


Riacho da Serra

Atlas Energy

bp lightsource


Celeo Redes




Red Eléctrica Internacional





Canadian Solar

Darby Servtec Energia FIP



Work highlights

  • Acted for Grupo Energía de Bogotá and Argo Energia in the acquisition of 100% of the control of five power transmission concessionaires held by Quantum/Brookfield Group.
  • Assisted Riacho da Serra in the sale of 100% of its corporate control to Exus Brasil Investimentos Gestão de Recursos.
  • Advised Atlas Brasil Energia on the acquisition of three solar projects in the city of Janaúba, Minas Gerais, with a total installed capacity of 196MWp, from Natural Energia.

Trench Rossi Watanabe

Drawing on its strategic cooperation with Baker McKenzie, Trench Rossi Watanabe has broad capabilities across the full range of power mandates, assisting domestic and foreign clients in energy auctions, M&A transactions, complex contracts and regulatory issues. The firm, which possesses strong credentials in the renewable energy and clean technology sectors, has been particularly active in matters involving self-production by equivalence projects and corporate PPAs. Department leader José Roberto Martins specialises in both corporate and administrative law, and is routinely engaged by power companies in high-value M&A and greenfield projects. Mauricio Pacheco has notable strength in domestic and cross-border deals in the energy sector, while Adam Milgrom is seasoned in power regulations, and industry-specific transactions and contracts, including PPAs.

Practice head(s):

José Roberto Martins

Key clients

Vibra Energia

Canadian Solar

Casa Dos Ventos

GE Power

SPIC Brasil

Lightsource BP

Mitsubishi Power

EDP Renewables



Air Liquide

Work highlights

  • Advised Vibra on the acquisition of 50% of the voting shares of ZEG Biogás e Energia Zeg Biogás, a subsidiary of Zeg Energias Renováveis and FSL Consultoria Empresarial.
  • Assisted Canadian Solar in all the steps of the 70% selling of its share to the Chinese group SPIC.

Ulhôa Canto, Rezende e Guerra Advogados

Ulhôa Canto, Rezende e Guerra Advogados combines overarching regulatory expertise with comprehensive power sector knowledge. Drawing on strong relationships with the main regulatory bodies in the country (including ANEEL), the firm is a premier choice for clients operating in all electricity segments – most notably generation and distribution – seeking advice on layered regulatory issues, litigation at the judicial and administrative levels, as well as power auctions, projects and M&A. The group is also singled out for its solid credentials in renewable energy mandates, covering wind, solar and hydropower. Isabel Lustosa, a veteran force in the Brazilian electricity sector, has played a key role in regulatory discussions in this space. She oversees the highly regarded team, which also features associate Luciana Yoshida, who regularly attracts instructions from generation companies, utilities and sponsors.

Practice head(s):

Isabel Lustosa


‘The firm has a team with expertise in the Brazilian electricity sector. The analyses prepared by this team are of excellent quality, with a deep technical foundation, always supported by robust precedents that confirm its position. This results in greater security and assertiveness in the application of the action strategies suggested by the firm for its clients.’

‘Isabel Lustosa is the partner and leader of the team specialised in the Brazilian electricity sector, which also includes Luciana Yoshida.’

Key clients

Light Group

Elera Renováveis

Comerc Energia



BRK Ambiental

Interligação Elétrica do Madeira

Companhia Siderúrgica Nacional

Auren Energia

Work highlights

  • Advised BTG on the potential acquisition of Amazonas Energia.
  • Advised CSN on the acquisition of CEEE-G in a R$928m winning bid followed by the payment of a R$1.7bn bonus to the Ministry of Mines and Energy.
  • Advised Light on the matters related to renewing its concession term.

Veirano Advogados

With extensive experience in the generation, transmission, distribution and commercialisation of power, Veirano Advogados advises industry players on project development and finance, contracts, M&A, tax, regulatory issues and litigation. It particularly stands out for its presence in the renewable energy space, where it assists clients in M&A transactions, distributed generation and in the negotiation of supply, construction, operation and maintenance agreements for solar and wind projects. Daniel Engel maintains a broad practice, but is especially active in renewable generation projects. He jointly leads the team with Ana Carolina Barretto, a key contact for financings, and Alberto Büll, who joined as a partner from 2W Energia in November 2022 and brings a wealth of experience in administrative proceedings and power sector auctions. Associate Paola Oliveira has notable expertise in contracts, public and regulatory law, with a particular emphasis on power generation, while Luísa Tortolano Barreto is singled out for her experience in sector-related M&A and regulatory matters. The team was strengthened by the arrival of energy specialists Fabio Di Lallo, Livia Amorim and Juliana Melcop from Souto Correa Advogados in October 2023.

Practice head(s):

Daniel Engel; Ana Carolina Barretto; Alberto Büll

Key clients


Scatec Solar

GE Wind

GD Sun

Comerc Comercializadora

Cobra Energia

Abaeté Investimentos

Ferroport Logística


Acciona Energia

Yinson Renewables

X-Elio Energy

Engie Brasil Energia

Argo Energia

Norsk Hydro


CPFL Energia

Cemig Geração e Transmissão



Lightsource BP

B3 – Brasil, Bolsa, Balcão

Global Power Generation (Naturgy Group)

Compass Gás e Energia

Grupo Gransolar / PV Hardware

BP Gas Marketing Limited

Nordex Acciona

Sunco Capital

2W Energia

Green Enesys Holdings

GreenYellow do Brasil Energia e Serviços


Exus Management Partners

Work highlights

  • Assisted Ferroport in the negotiation and structuring of a power self-generation structure.
  • Advised Cemig Geração e Transmissão on the review and negotiation of 11 EPC and supply agreements for the participation in two transmission auctions held by ANEEL in 2022.
  • Assisted Alunorte in the negotiation and structuring of a power self-generation structure subject to a US dollar-denominated financing by the Inter-American Development Bank (IDB).