"The first to express their intentions was the Empresa de Energía de Bogotá (EEB), after the president, Ricardo Martinelli, announced on March 13 that Panama would not continue with the work, which would represent an investment of 500 million dollars" , reported Prensa.com.

In addition, members of the company Celsia, the fourth largest electricity generator in Colombia, also expressed interested in the project, which it sees as a platform to expand its presence in Central America.

Meanwhile, Orlando Cabrales, deputy energy minister of Colombia, said that within the next few days he will meet with Panamanian authorities in order to establish alternatives to finance the project.

Source: Prensa.com

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The work will need $500 million in financing which governments are not willing to guarantee, although private investors may be interested in taking on the project.

In place of this, Panama will be expanding its distribution network. "Panama needs to invest adequately the few resources it has, therefore we favor a project to expand the network that supplies electricity to the capital of Panama, which requires an investment of about $200 million," said the president Ricardo Martinelli.