Panama: $ 5.6 million for Utility Purchase

The Government will purchase distribution equipment, transformers and power lines from electricity distribution company Bocas Fruit.

Thursday, February 17, 2011

The Budget Committee of the National Assembly approved $ 5,617,565 million to the Ministry of the Presidency, for the purchase of the Bocas Fruit Company, which supplies power to Changuinola, Guabito, Admiral and surrounding communities in the province of Bocas del Toro.

The Energy Secretary, John Urriola, said that once the purchase is made, Bocas del Toro will be integrated into the national grid and will constitute one of the most reliable areas in the country shortly after inaugurating the grid coming from neighboring Costa Rica.

He said the new network will also receive a line from Fortuna hydroelectric, which will secure adequate rates in the national integrated system.

More on this topic

Panama to Award Electricity Distribution Concession

July 2010

The Panamanian State has bought Bocas Fruit Company’s electrical assets for $4 million, to award a concession contract.

Juan Manuel Urriola, Energy Secretary, explained that once the assets have been purchased, they will proceed to release them under administrative concession so that they can be managed privately to supply electricity to the village communities of Changuinola and Almirante.

$472 million for Improvements to Power Grid

November 2011

The Government of Honduras has decided to solve its age old problem of energy loss by investing in the improvement of transmission and distribution.

With a huge investment, the Honduran government will implement a plan to improve the power distribution network in the country, which for years has caused problems due to its deteriorated condition.

Guatemala: US Company acquires Electricity Distributors

January 2016

It has been announced that IC Power will pay US $299 million for the companies Deocsa and Deorsa, plus another $289 million to cover the liabilities of these electricity distributors.

The promise of sale was announced by the company IC Power in December, and the transaction is expected to be finalised in January this year.

Panama: $100 Million for Power Grid

December 2014

A loan from the Development Bank of Latin America will finance improvements to the power transmission capacity of the national grid.

From a statement issued by the Development Bank of Latin America (CAF):

CAF -the development bank of Latin American is providing funding in the amount of $100 million to the Electricity Transmission Company SA (ETESA) to contribute to efforts to increase the power transmission capacity of the National Interconnected System (SIN) of Panama.

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