Panama: $400 million a Year on Energy

It is estimated that 100 MW of extra energy a year demanded by Panamanians require an average investment in generation and distribution systems of $400 million a year.

Friday, May 8, 2015

Every year the addition is needed of another 100 MW of power in order to meet the country's growing demand for energy, representing an investment of approximately $400 million a year, according to data from the National Energy Secretariat. Within this framework, employers in the sector have proposed creating long-term policies which provide new strategies for attracting investment.

The government announced it will create a plan for improvement and transformation of the energy sector which will take into account the views of the different organizations involved and it will be updated every year. The National Energy Secretary Victor Urrutia, told Prensa.com that "... The plan aims to draw up a roadmap for achieving the investments needed to meet the demand of nearly one million electricity customers. It is estimated that in the last 18 years the private sector has invested between 4 billion and 5 billion dollars in generation and distribution. "

"... The Government will develop an energy plan for 2015 to 2050 which will be revised every year and for which it plans to take into consideration the views of organizations and civil society. "

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