Mr Ramon Varela > Morgan & Morgan > Panama, Panama > Lawyer Profile

Morgan & Morgan

Work Department

Business and Corporate Law, Projects, Energy and Natural Resources, Banking and Finance.


Ramon Varela is a Partner and heads the Energy and Projects practices of the firm.

He also has a leading role in the Corporate Law practice, counseling clients in matters related to mergers and acquisitions, joint-ventures, securities, corporate governance and regulatory law. 

Prior to joining Morgan & Morgan, Mr. Varela served as an associate in the Commercial Law Department of a well-known local firm, reviewing matters related to mergers and acquisitions, project finance, contracts, environmental law and securities.

With almost 20 years’ background in corporate law, including project finance matters, Mr. Varela’s experience includes major areas of infrastructure projects, including transportation, ports and energy. His practice focuses advising clients involved in the generation of energy, including hydro, wind, natural gas and solar projects.  He led the Morgan & Morgan team that represented The AES Corporation in the development of the Changuinola I Hydroelectric Project, one of the most important private investments in the country.  He also led the Morgan & Morgan team advising a group of lenders in a credit facility of up to US$300 million for the financing of four wind farms, with an aggregate capacity of 215 MW, in Coclé Province; Republic of Panama, expected to be the largest wind farm in Central America.  In addition, Mr. Varela is currently advising The AES Corporation in the development of an integrated gas to power facility in the Telfers Islands in the province of Colon, at the North Coast of the Republic of Panama. The project consist of a 380MW net combined cycle gas-fired power plant and an onshore LNG import terminal with an 180,000 m3 storage tank, as well as the construction of power evacuation facilities to interconnect the generation plant with the existing electricity transmission network.

Mr. Varela has also served as speaker at conferences and workshops related to the energy market in the country, to discuss the investment needs of the energy sector and new energy projects in Panama.

His client portfolio includes developers, operators, EPC contractors, investors and government authorities who are actively involved in the energy sector.

Chambers & Partners, IFLR 1000, Latin Lawyer 250, Legal 500, and Who´s Who Legal have recognized Mr. Varela as a leading lawyer in corporate and M&A, project finance, government contracts, energy and infrastructure.

Mr. Varela is admitted to practice law in the Republic of Panama.


Engilsh, Spanish.


Mr. Varela obtained a B.A. in 1995 from Georgetown University, Washington, D.C. and a J.D. in 1998 from The George Washington University Law School, Washington, D.C.  

Lawyer Rankings

Panama > Projects and energy

(Leading individuals)

Ramón VarelaMorgan & Morgan

Morgan & Morgan counts government entities, major domestic and international financial institutions, multilateral development agencies and investment banks among its clients, and has extensive experience in advising on the financing and construction of large-scale infrastructure projects, including transportation, mining and renewable energy developments. In addition, the firm advises on public tenders and government concession contracts. Practice head Ramón Varela specialises in advising on the financing and development of energy projects, including renewable projects, in addition to handling M&A and regulatory issues in the energy sector. Other key contacts include Inocencio Galindo and Kharla Aizpurúa, who have considerable expertise in project finance, Aristides Anguizola, who is particularly experienced in mine development and finance, and senior associate Ana Carolina Castillo, who specialises in financial and corporate transactions and regulatory matters in the energy sector.

Panama > Banking and finance

(Leading individuals)

Ramón VarelaMorgan & Morgan

Morgan & Morgan acts for both lenders, including major foreign and domestic banks, and borrowers, advising on a wide range of financial matters. Among the areas of strength for the ‘excellent‘ team are project finance, particularly in relation to energy, mining and infrastructure projects, syndicated lending, banking sector M&A, and regulatory matters. It has additional expertise in insolvency and restructuring, areas which have been particularly active during the pandemic. Inocencio Galindo leads the team, which also includes the ‘committed‘ and ‘accessibleKharla Aizpurua Olmos, who stands out for her strength in domestic and cross-border transactions, Francisco Arias, who has expertise in structured finance and regulatory matters, and project finance specialist Ramón Varela. Senior associate Ana Carolina Castillo is also noted.

Panama > Corporate and M&A

Morgan & Morgan has a broad corporate practice, spanning both domestic and cross-border M&A, joint ventures, restructuring and corporate governance, and is particularly noted for its advice to multinationals on the establishment of headquarters in Panama. Its diverse client base includes banks and financial institutions and companies from the real estate, transport, energy, and food and beverages sectors, among others. In addition, the firm has launched a new practice focused on advising start-ups on developing their businesses, led by Kharla Aizpurúa and international associate Miguel Arias, and offers pro bono services as a member of the Pro Bono Declaration of the Americas. The experienced Francisco Arias leads the team, which also includes Inocencio Galindo, who brings additional banking, mining and tax expertise to the team, Roberto Vidal and Ramón Varela.