Shearman & Sterling represented Central American Bank for Economic Integration (CABEI) and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO) as lead arrangers in connection with a non-recourse financing for the Barro Blanco hydropower project in Panama.

Barro Blanco adds to the breadth of Latin America renewable energy projects financed by CABEI, on which Shearman & Sterling also advised or is currently advising, including the Tumarín hydropower project in Nicaragua, the Amayo II wind project in Nicaragua, the Cerro de Hula wind project in Honduras and the San Jacinto-Tizate geothermal project in Nicaragua (selected as “Latin America Geothermal Deal of the Year 2010" by Project Finance).

The Shearman & Sterling team included partner Gregory Tan (New York-Project Development & Finance), counsel Alexandro Padrés (New York-Project Development & Finance), and associates Erika Mouynes (New York-Project Development & Finance) and Osi Innih (New York-Project Development & Finance).