New hydroelectric plants to be put to tender in Panama
On Friday five hydroelectric projects will be put to tender, four of which were previously taken away from the first developers due to non-compliance and will now be given to the company with the best offer.
Thursday, December 18, 2008
The general administrator of the Public Services Authority (ASEP), Victor Urrutia, said that the developers have one year to begin the construction of the projects and will only be granted extensions for another year provided that there is a valid reason. He also said that construction activity must be proven.
In Panama the amount of ongoing investment in hydropower projects adds up to $1 billion , 95% of which are in Chiriqui and Bocas del Toro.
During the term of the current government some 40 requests for hydroelectric concessions, that have not complied with the development of the projects, have been canceled.
Most of the concessions to build hydroelectric power plants in the rivers of Chiriquí were granted without paying fees, for 50 years.
'Larreynaga', a 17-MW hydroelectric power plant will be built with financing from Spain.
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