With over 30 years in the market, Morales & Besa has long-standing experience advising on high-profile infrastructure and energy projects. The practice group’s experienced lawyers advise both developers and financial institutions throughout the full project cycle, from initial development, structuring and acquisition, to financing, regulatory compliance and dispute resolution. The group is particularly active in the PPP space and regularly acts in projects across the energy, transport, ports, hospitals and mining sectors. It is currently involved in several landmark construction matters, including the expansion of Santiago's Merino Benítez Airport, various toll road concession projects, the Félix Bulnes and Coquimbo hospitals, and the $775m Valparaíso port expansion. In the mining sector, the team represent major clients such as Engie and EIG, and is currently advising Minera Salar Blanco on the Maricunga lithium project. Practice head Carlos Silva is praised by clients as ‘an exceptional lawyer who understands the critical aspects and needs in each transaction.’ Highly regarded for his expertise in infrastructure, energy and mining, he advises on all phases of projects and has a stellar track record for handling complex developments, financings and restructurings. Myriam Barahona is a seasoned expert in banking and project finance - especially regarding energy and infrastructure; she advises lenders and borrowers on domestic and cross-border financings and project bond issuances. Head of the real estate and construction group, Macarena Laso most often advises on PPPs and infrastructure; she is currently leading on mandates for Grupo Patria, Cintra, and Meridiam involving major toll road and urban infrastructure projects. Juan Carlos Valdivieso specialises in regulatory and commercial energy matters; formerly in house in the electricity generation sector, he is a key adviser on green hydrogen regulatory issues. Having recently worked in-house with EIG Global Energy Partners on major projects, senior associate Manuel José Eyzaguirre rejoined the firm in 2024; he is currently advising on mining and energy projects, financings and M&A. Fellow senior Carolina Stalder has extensive experience in project contracts and bidding processes, and is particularly active on infrastructure and energy matters. Since publication, Eyzaguirre has left the firm, becoming a name partner at April 2026 spin off Morales Besa Eyzaguirre Abogados (MBE).
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Profile
Work Department
Real Estate & Construction
Corporate/M&A
Projects
Corporate/M&A
Projects
Position
Managing Partner at Morales & Besa and head of Real Estate and Construction.
Career
Macarena has focused her practice on corporate matters, mergers and acquisitions, investment funds, public concessions, real estate and construction works and infrastructure projects. She is Morales & Besa’s managing partner since May 2021.
Her most recent advices include the creation of investment funds of private equity, both regulated and private, and their corresponding investment; the negotiation of construction agreements in representation of construction companies; and advising on the bidding of public infrastructure projects, such as the drafting of guarantees and construction agreements. She also advises on mergers of publicly listed companies and in the process of buying and selling companies, advising both the sellers or buyers to such companies.
She is an arbitrator of the Arbitration and Mediation Center of the Santiago Chamber of Commerce (CAM).
Languages
Spanish and English.
Memberships
Chilean Bar Association.
Arbitrator of the Abitration and Mediation Center of the Santiago Chamber of Commerce.
She is a member of the directory boards of Innergy Holdings, Innegy Transporte and Innergy Soluciones Energéticas. She is also a director of Gas Pacífico and Gas Pacífico Argentina, a member of Enap’s subsidiary companies’ boards, as well as an advisor to the board directory of Ingevec S.A. for over 7 years.
Education
Pontificia Universidad Católica de Chile, Law School, Law degree (1995).
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Testimonials
Collated independently by Legal 500 research team.
‘They are a team with extensive experience in projects and international project financing. They have represented us in energy and infrastructure project financing in Chile, including due diligence, financing document negotiation, and contract default and renegotiation situations. Carlos Silva is an exceptional lawyer who understands the critical aspects and our needs in each transaction. His advice is very important to us, and it makes a positive difference.'
‘They are experienced lawyers who are concerned not only with resolving legal issues but also with ensuring that their solutions make practical and commercial sense. We are advised by Carlos Silva and Juan Carlos Validivieso. Their main strength is that they fully understand our needs, which are not the same as those of a commercial bank, a local financier, or a DFI; they also understand our market, which is mid-market projects. They provide a tailor-made service because they understand and adapt to our profile and reality as investors.’
Key clients
- Sociedad Concesionaria Nuevo Pudahuel
- Corporación Nacional del Cobre de Chile
Work highlights
Advised Grupo ISA's Intervialon several matters related to over 900kms of toll road projects in Chile.