José Antonio Morán

José Antonio Morán

Baker & McKenzie LLP


José A. Morán serves the Global Steering Committee of the Firm's Projects Practice Group and Energy, Mining & Infrastructure Practice Industry Group, and is the past chair of the Firm's Global Projects Practice Group, which consists of over 200 lawyers who work on large energy, mining and infrastructure projects and financings. The Legal 500 United States has recognized José from 2011 - 2016 in the area of project finance and in prior years in the areas of corporate & finance and real estate & construction.

Additionally, José has been recognized by the 2017, 2018 and 2019 Chambers & Partners global guide in the area of Projects. José is noted for his projects work with Spanish clients including in project financings noting that: "His projects work forms part of his broad banking and finance practice" and receives warm praise from interviewees, with one client reporting: "He's always available. He always hears us and gives us the best approach."

José was named to A Word About Wind's 2022 Top 100 Legal Power List. The Legal Power List ranks the top 100 lawyers that exert the most influence on the wind industry globally, through the deals they work on and the advice they provide. In 2021, José represented a large infrastructure fund in a transaction that was awarded "Deal of the Year" by the International Financial Law Review (IFLR) at the IFLR Americas Awards 2021. Further, in 2020, José represented the lead underwriters in a bond offering transaction that was awarded the 2020 Infrastructure Journal "Global Award for North American roads category". In 2019, José led the representation of a USD 3.59 billion acquisition that was awarded the 2019 "Outbound Deal of the Year" at the 14th annual China Law & Practice Awards.

José has been trained as a lawyer under a civil law system and a common law system.

José is a lecturer at Loyola University School of Law's comparative law seminar on legal systems in the Americas, and a visiting professor at Northwestern Law School as a lecturer in the project finance class. He was the vice chair of the Banking and Financial Services committee of the International Institute for Conflict Prevention and Resolutions. Prior to joining Baker & McKenzie, José practiced law in Madrid, Spain and in New York, with the law firms of Gide Loyrette Nouel and Simpson Thacher & Bartlett LLP, respectively.  Further, José has also worked at the Madrid and Barcelona offices of Baker & McKenzie as part of the Firm’s Associate Training Program.

Practice Focus

Amid a changing global energy market, his work includes acquisition and divestiture of power project assets for both financial and strategic parties. Both on behalf of project sponsors and lenders, José has led moving complex projects through development, project financing and operation.

José represents clients in numerous high-value deals, including one recognized by Thomson Project Finance International as “the largest merger and acquisition deal in Latin America.” José has a particularly strong expertise in multi-tiered financing structures and cross-border transactions, including intercreditor arrangements and workouts. José has also been lead counsel on limited recourse project financings, using traditional bank debt, leveraged leases and Rule 144A capital markets issues. And during project development, he has successfully managed complex siting, permitting and transaction issues.

José has assisted many international companies, including utilities and IOC’s in their acquisitions of solar, wind and battery storage portfolios, in operation and development across the U.S. (in 5 RTO zones) and Canada. A number of those transactions included post-closing funding as construction of the projects from the portfolio are completed. Further, José continues to assist these clients on the due diligence updates and additional financings (including tax equity financings) and closings on an ongoing basis. José brings knowledge of critical issues, concerns and drivers of energy matters, providing tailored, specialist advice that addresses the particular complexities of doing business in the industry.

Representative Legal Matters

M&A, Renewables and Project Development

  • Representing AVANGRID on corporate development matters including ongoing investments and divestments of solar, onshore and offshore wind projects in the US.
  • Acted as US counsel to Repsol, S.A. in its sale of a 25% stake in its worldwide renewables unit to Credit Agricole Assurances and Energy Infrastructure Projects (EIP) for EUR 905 million (USD 964 million). The transaction values Repsol's renewable energy business, including debt and minority holdings, at EUR 4.38 billion.
  • Represented Repsol, on the acquisition of a 40% interest in Hecate Energy, a US-based PV solar and battery storage project developer with a portfolio of more than 40 GW of renewable and energy storage projects under development, including 16.8 GW of solar projects at advanced stages of development. This transaction is Repsol's first foray into the US renewables market. Repsol will have the option of acquiring Hecate Energy’s outstanding shares three years after the closing of this transaction.
  • Acted as US counsel to the Co-Lead Managers of the Initial Public Offering of Corporación Acciona Energías Renovables, S.A. (CAER), CAER owns and operates a nearly 900 MW of wind and solar projects across the US and Canada.
  • Advised Naturgy, on its acquisition of Hamel Renewables, a solar and energy storage development platform in the United States from Macquarie's Green Investment Group. Hamel Renewables holds a portfolio of 8 GW solar projects together with 4.6 GW of energy storage projects spanning nine states, of which 25 projects totaling 3.2 GW.
  • Represented Repsol Energy Ventures, S.A. (a wholly owned subsidiary of Repsol, S.A.) on its divestment in Principle Power, Inc., a leading floating wind power technology company based in the US. with over 100 MW under construction and advanced development projects in Portugal, Scotland and France.

Transportation and Infrastructure

  • Represented Natixis, New York Branch (as Coordinating Mandated Lead Arranger, Structuring Bank, Administrative Agent and the Green Loan Coordinator) and Banco Bilbao Vizcaya Argentaria, S.A. New York Branch (as Mandated Lead Arranger) on an approximately 146 million dollar credit agreement to finance the development, construction, ownership and operation of the Centella and Tap Mauro power transmission line projects in Chile by Centella Transmisión, S.A., a subsidiary of Ferrovial S.A.
  • Represented the borrower Autopista del Norte S.A.C. (AUNOR) a subsidiary of Aleatica, on a USD 350 million senior secured loan to refinance the Red Vial 4 road project in Peru. The loan will enable AUNOR to continue road construction and finance additional infrastructure. 
  • Represented BofA Securities, Inc. and Barclays Capital Inc. as underwriters in connection with a private activity bond offering in the state of Texas in the principal amount of USD 653 million raised to finance the construction of managed toll lanes along I 35-W in the Dallas - Ft. Worth transportation corridor. 
  • Advised the OHL Group and OHL USA in connection with the joint venture agreement entered into by OHL USA and Astaldi Construction Corporation and its parent Astaldi S.p.A. to develop a USD 1.2 billion Design Build and Engineering project for the Orange County Transportation Authority, CA.

Power, Oil & Gas

  • Advised Enagás, the transmission system operator and energy company listed in Spain, in connection with its agreement to sell, together with the Canadian pension fund OMERS, their aggregated 80% holding in Chile's GNL Quintero, the operator of a gas port terminal and regasification plain in Valparaiso Chile, to Belgian gas utility Fluxys and investment fund EIG. Pursuant to the share purchase agreement, each of Enagás and OMERS will transfer its 45% and 35% ownership stakes, respectively, in GNL Quintero, subject to the satisfaction of certain conditions precedent, including anti-trust clearance in Chile.
  • Advised Enagás and Elecnor as US local counsel on the agreement to jointly and equally sell the Mexican companies Gasoducto de Morelos and Morelos O&M to Macquarie for a total amount of USD 173.8 million (154.2 million euros). Specifically, the purchase of the Mexican companies was carried out by MIP V International, a subsidiary of the Macquarie fund.
  • Representing Repsol, S.A., in significant securities, commercial and regulatory matters in the United States.

Professional Associations and Memberships

  • Chicago Bar Association
  • Madrid Bar Association
  • American Bar Association
  • Illinois State Bar Association
  • District of Columbia Bar


  • Wyoming~United States (2021)
  • New York~United States (2008)
  • District of Columbia~United States (2001)
  • Illinois~United States (2000)
  • Madrid~Spain (1994)


  • Loyola University Chicago School of Law (J.D.) (1999)
  • Fordham University School of Law (LL.M.) (1996)
  • Complutense University of Madrid (J.D.) (1994)


  • English
  • Portuguese
  • Spanish

Previous Offices

  • Barcelona
  • Madrid


  • Capital Markets: Debt Raising & COVID-19 "A capital time to tap the markets: part two," IFLR, Summer 2020
  • "Sustainability Finance – Recent Growth and Development," International Comparative Legal Guide to: Lending & Secured Finance 2020, 8th Edition, Global Legal Group, April 2020
  • TalksOnLaw's  interview, how and when COVID-19 may qualify as a force majeure event and how New York courts are likely to interpret such provision.
  • "5 Key Issues in Acquiring Transportation Infrastructure Assets," Law 360, 6 June 2019
  • "Common Structures and Market Trends in Holdco Financings in the US Power Industry," The International Comparative Legal Guide to: Project Finance 2019, 8th Edition, Global Legal Group, May 2019.
  • "US Infrastructure Outlook 2018: The Whitehouse Proposal," The International Comparative Legal Guide to: Project Finance 2018, 7th Edition, Global Legal Group, May 2018