Panama monitoring sale of Union Fenosa to Gas Natural

Edemet Edechi, the main electricity company in Panama, is 51% owned by Union Fenosa.

Wednesday, January 14, 2009


©image:

The National Public Services Authority of Panama reported that it is closely following the $25 million sale of the Spanish company, Union Fenosa, to another Spanish company, Gas Natural.

Union Fenosa owns 51% of Edemet-Edechi, the Panamanian energy company which has 410,000 clients and $500 million in annual sales. The Panamanian government owns another 39% and the rest belongs to employees and private investors.

More on this topic

Panama Seeks Investors for Electricity Distributors

March 2013

Promotion efforts are being made in Colombia, Chile, the United States and Spain for 51% of the shares of the distributors Edemet, Edechi and Elektra Noreste.

The strategy is to promote among foreign companies, the sale of 51% of the shares of the electricity distribution companies in Panama, said Zelmar Rodriguez, manager of the ASEP.

Electricity Distribution in Nicaragua

November 2012

The crisis of the distributor Gas Natural could lead to Albanisa’s entry into the business, controlled by pro-government interests.

Laprensa.com.ni reports that "the Minister of Energy and Mines, Emilio Rappaccioli, announced that they are close to reaching an agreement in the negotiations which the government and the power distribution company, Natural Gas have been holding over the last few months."

Panama Tenders 51% of Electricity Distribution

March 2012

The current concessions will expire in 2013 and the contracts include an obligation to provide "a competitive process of free competition ... the sale of majority shares of the company holding the concession."

The concession contracts signed in October 22, 1998 with Gas Natural Fenosa and Ensa, 15 years ago are going to expire, meaning that the National Authority of Public Services (ASEP) must tender the sale of 51% of the aforementioned distribution companies shares before October.

Nicaragua: Fenosa Would Buy Production of Future Geothermal Plant

May 2010

Gas Natural Fenosa entered into a letter of intent with Ram Power Corp to Purchase 157MW from future geothermal power plant “Casita”.

Ram Power, Corp. has entered into a Letter of Intent (the "LOI") with Disnorte-Dissur, a Gas Natural Fenosa company to negotiate a Power Purchase Agreement for energy that will be produced by a new geothermal power plant under development in Nicaragua.

 close (x)

Receive more news about Energy

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Costa Rica Coffee Farm and Development Property

Sustainable 70 Acre Coffee Farm, San Ramon, Costa Rica Coffee Estate, development property with 20 titled lots, ready to develop with roads, water, power. Great Location, close to everything
Ideal area for living or developing an ecologically...

Stock Indexes

(Apr 24)
Dow Jones
1.05%
S&P 500
1.08%
Nasdaq
1.24%

Commodities

(Apr 24)
Brent Crude Oil
52.13
Coffee "C"
132.00
Gold
1,277
Silver
17.910