Santiago Medina Zavala

(The following information was supplied by the firm)


Santiago’s practice focuses on the structuring and financing of infrastructure and energy projects, government procurement, public-private partnerships and corporate matters related to such projects, including joint ventures, strategic alliances, mergers and acquisitions.

He has experience in various sectors, including water, transportation, toll roads, renewable and conventional energy, social and cultural infrastructure, where he has advised financial institutions, governmental entities, national and multinational companies and private equity funds in project structuring, bidding, acquisition, financing and negotiation of material agreements, including PPAs, EPC and O&M contracts.

Santiago is also a member of the firm’s Aviation Practice Group; he has mainly represented banks and institutional lessors in the leasing and secured financing of private and commercial aircraft, including SLB, JOLCO transactions and PDP financings.

He worked as a Visiting Attorney at the New York office of Gibson, Dunn & Crutcher LLP (2013-2014), where he mainly participated in M&A transactions, and in the structuring, financing and acquisition of energy and infrastructure projects.

Recognized as a Rising Star in Projects and Infrastructure by The Legal 500, by Best Lawyers in Aviation Law and as an associate-to-watch by Chambers and Partners, described by clients as a “responsive and professional lawyer with ample experience and knowledge of the aviation arena.”

Santiago graduated from Universidad Iberoamericana, attorney at law (2009) and received his LLM from Harvard Law School (2013).

Recent work highlights:


  • A multinational company on the legal and bankability aspects related to the 836.79 MW Salamanca combined cycle power plant project tendered by CFE under an OPF (obra pública financiada) structure.
  •  Sumitomo Mitsui Banking Corporation in two facilities, including letters of credit, to subsidiaries of OPDEnergy to finance the development of two solar plants in Aguascalientes (29.67 MW ) and Coahuila (82.5 MW), Mexico, with CFE Suministrador as energy offtaker, and in a subsequent change of control to Riverstone.
  • Bancomext in the financing to Vega Solar 6, SAPI de CV, a subsidiary of Atlas Renewable Energy, for the development of the Guajiro Solar Project (126.5 MW) in Hidalgo, Mexico, with CFE Suministrador as offtaker.
  • Citibank, N.A., Citibanamex and institutional “accredited investors” in the financing through secured notes, a term loan and letters of credit for USD$347 million to an affiliate of BlackRock, for the upgrade and expansion of port logistics and coal transportation facilities at the Lázaro Cárdenas Port for the supply of the CFE Petacalco power plant.
  • Pemex in the unwinding of its joint venture with IEnova in Gasoductos de Chihuahua for USD$1,325 billion.


  • Suez Medio Ambiente México and Suez International in the negotiations with the winning consortium for the award of a 37 year PPP agreement by the State Water Commission of Baja California, for the design, construction, operation and maintenance or the largest desalination plant in Latin America, located in Rosarito, México, including EPC and O&M contracts.


  • Banco Santander (México), and the syndicate of lenders (Banobras and Inbursa) on the preparation and negotiation of a senior loan facility and a VAT facility to finance AT-AT, a subsidiary of OHL México, in connection with its investment in a toll road that will run from Atizapán to Atlacomulco in the State of Mexico.


  • Several banks and financial institutions on cross-border financings secured with assets located in Mexico.


  • Banks and institutional lessors on leases and secured financings of private aircraft.
  • The lenders and investors (SMBC, Nomura, Babcock & Brown, Natixis, NTT Finance Corporation and Development Bank of Japan) in the JOLCO financings of Aeromexico’s 787-9 Dreamliners, each for approximately USD$110 million.
  • SMBC Aviation Capital in PDP and sale and lease back financings of 7 A320Neo to VivaAerobus.

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