Leading Individuals

Rising Stars

Energy and projects in Honduras

Aguilar Castillo Love

Experienced partners Enrique Rodríguez Burchard and Juan José Alcerro Milla are key members of the multi-disciplinary team at Aguilar Castillo Love, which draws upon the full-service firm's banking and finance, corporate and capital markets expertise to advise on transactions in the energy sector. The team has particular strength in project finance, assisting with the development of significant renewable energy, mining, infrastructure and real estate projects in Honduras; as a regional firm, it is also well placed to handle cross-border matters. Clients include energy and natural resources companies, banks and financial institutions. Carolina Aguirre Larios is another notable member of the team; she specialises in public-private partnerships (PPPs), in addition to advising on project finance and other matters in the energy sector.

Practice head(s):

Enrique Rodríguez Burchard; Juan José Alcerro Milla


‘They are very professional, with a lot of expertise and knowledge in the field of renewable energy.’

Key clients

Aura Minerals

Inversiones de Generación Eléctricas (INGELSA)

Energía Solar Centroamericana, subsidiary of Gestamp Renewables

Work highlights

  • Advised Canadian mining conglomerate Aura Minerals on an IPO and follow-on offering on Brazil’s B3 stock exchange, raising $150m to assist with the expansion of the company’s producing assets, including the San Andrés mine in Copán, Honduras.
  • Assisted renewable energy investment fund Deetken Impact Sustainable Energy with the financing and acquisition of the 7.5MW Betulia hydroelectric project on the north coast of Honduras.
  • Advising Inversiones de Generación Eléctricas (INGELSA) on the development, construction, financing and operation of the 14.48MW Jilamito hydroelectric project in the municipality of Arizona, Honduras.


Energy is a key area of expertise for the multi-disciplinary team at BLP, with Karla Aguilar singled out as 'one of the best-known lawyers in the energy sector'. The team is highly active in advising on environmental licensing and authorisations for major projects, particularly in the renewable energy sector, as well as assisting with M&A, project finance, power-purchase agreements (PPAs) and regulatory issues. Aguilar specialises in advising local and international investors on projects, as well as in environmental permits and electricity supply contracts, while José Miguel Álvarez's experience includes the financing and regulation of solar and hydroelectric power projects. Senior associate Rafael Chicas has notable expertise in PPAs and energy regulation.

Practice head(s):

José Miguel Álvarez; Karla Aguilar


‘Karla Aguilar is one of the best-known lawyers in the energy sector. Her approach to negotiation and conflict resolution allows for the creation of an optimal business environment and the realisation of opportunities in the sector.’

Key clients

BID Invest

Eco.business Fund

Energía Eólica de Honduras


Producción de Energía Solar y Demás Renovables (PRODERSSA)

KLP Norfund Investments


Scatec Solar


Corporación Multinversiones

Work highlights

  • Assisted eco.business Fund in the granting of a facility agreement of $5m to Banco Atlántida to support itself during the Covid-19 crisis and preserve environmental assistance through this fund.
  • Advising Energía Eólica de Honduras (EEHSA) (part of Corporación Multi Inversiones Group) on the process of a change of sponsor.
  • Advising Hidroeléctrica El Volcán on the environmental licence and contractual arrangements of El Tornillito hydroelectric project, the second-largest hydroelectric project in Honduras.


A leading firm in the region, Arias has experience in the full range of projects work, advising on the financing, construction, leasing and permitting of projects, particularly in the energy, infrastructure and real estate sectors. In a recent highlight, managing partner Evangelina Lardizábal led advice on the financing, construction, operations and development of a significant telecoms infrastructure project. Lardizábal and Mario Agüero also bring their strength in corporate and finance matters in M&A and other transactions in the energy sector. Among the team's clients are regional energy and natural resources companies and financial institutions.

Practice head(s):

Evangelina Lardizábal; Mario Agüero

Key clients


Ascendant Resources

High Power Petroleum

Energia Cinco Estrellas


Work highlights

  • Advised Canadian fund CASEIF III on the provision of $5m financing to local Honduran corporation Bay Islands Telecommunication (BITEL) for the construction, operation and development of a submarine fiber optic communications network.
  • Advised Tegra, through its local subsidiary Southern Apparel Contractors, on all agreements with Grupo Kattan, a local contractor, for the construction and subsequent lease of a textile manufacturing facility in San Pedro Sula, Honduras.
  • Advised Ascendant Resources on the sale of 100% of its shares in mining company American Pacific Honduras, (AMPAC) to Panamanian company Kirungu Corporation.


Central American firm Lexincorp has a long track record in advising public and private companies in the energy and infrastructure sectors, assisting with M&A transactions, project finance and concession agreements, among other matters. A standout highlight for the team was its advice to the Secretariat of Infrastructure and Public Services (INSEP) on the construction of the Palmerola International Airport project. Honduras managing partner Benito Zelaya is a key figure in the team, along with Engels Zelaya, who has extensive experience in government procurement and contracting, PPPs and contentious-administrative proceedings. Associate Moisés Arteaga is also noted for his expertise in the renewable energy sector.

Practice head(s):

Benito Zelaya; Engels Zelaya

Key clients

Secretaría de Infraestructura y Servicios Públicos (INSEP)

Genesis Energías

Total Eren

Work highlights

  • Assisted Genesis Energías with conducting due diligence on an energy company which was part of a PPA for generating up to 250MW, and the subsequent acquisition of the company.
  • Advising Secretaría de Infraestructura y Servicios Públicos (INSEP) on supervising the contracts for the construction of the Palmerola International Airport project.
  • Assisting Total Eren with carrying out due diligence on the San Marcos wind energy project in preparation for the acquisition of the project.