In a changing financial landscape, how does the company remain competitive against new phenomena such as fintech and blockchain, and how does the legal team assist with this?
We are now part of a volatile and ever-changing environment — not only the financial landscape is constantly changing, but the energy sector, the regulatory and technology frameworks, are continually evolving. Barka believes in holding a diversified portfolio and investing in disruptive spaces, such as cryptocurrencies. Its team of the top tier, flexible, adaptable, visionary executives sets the pace for the company. The legal team not only plays an assisting role but also acts as an enabler in charge of materialising transactions. The legal team must have a solution-oriented and multidisciplinary perspective, where strategic thinking prevails.
What are the most significant cases or transactions that your legal team has recently been involved in?
Barka Capital recently acquired a 49% membership interest in Entoria Energy Latin America — a company incorporated in Singapore that develops photovoltaic projects in Latin America and has developed, through its affiliates, major photovoltaic projects in Asia and Europe.
In what ways do you see the in-house legal role evolving in your region over the next few years?
In-house lawyers have moved from being backstage assistants to leading players. Companies need experts who act reactively, aligned to the flexibility, efficiency and dynamism required in crises that shake the status quo, such as a pandemic. In times of change, companies respond rapidly and wisely or are doomed to failure. The same standard applies to in-house legal teams —if we are not ready to act quickly and with creativity, we no longer serve the company’s purpose. As we advance, in-house lawyers must have multidisciplinary economic, accounting, or business administration backgrounds. They should be capable of adapting to changes and understand the industry beyond the legal perspective; they should bring added value and differentiate themselves from external counsel. A lawyer who does not understand and is not sensible to the needs and objectives of the company is not a good fit.
Apart from legal matters, has the team worked on other company initiatives?
All the companies where Barka has an interest have mainly been involved in corporate social responsibility programmes. The hydroelectric power plants are located in the Ecuadorian Amazon and have engaged in an essential range of initiatives to support the nearby communities. At the same time, all the projects were financed by multilateral or green funds such as FMO, CIFI, IFC, and CAF — the environmental standards with which the companies comply are considerably high.
