Morgan & Morgan advised on the sale of two solar plants.

Panama, April 2, 2025. Morgan & Morgan advised the shareholders of Aguafuerte, S.A. and Aquavoltaic, S.A. (the “Companies”) on the sale of their shares to Cox Energy. Cox Energy is a leading company in the development and promotion of energy solutions in America, Europe, Africa, and the Middle East. The Companies operate two solar plants of 12 MW each —Solar Pro I and Solar Pro II— both located in the Province of Chiriqui and in operation since early 2025.

The acquisition of Solar Pro supports the energy diversification of Panama, where more than 60% of the current electricity generation comes from hydro sources. Enrique Riquelme, CEO of Cox Energy, highlighted in a statement that this operation reflects the company’s commitment to energy transition and sustainable prosperity in the regions where it operates. Solar Pro I and Solar Pro II represent a boost to the country’s development by generating employment and contributing to the advancement towards a greener and more resilient economy.

Partner Ana Carolina Castillo and international associate Miguel Arias participated in this transaction.