Panama to Award Electricity Distribution Concession
The Panamanian State has bought Bocas Fruit Company’s electrical assets for $4 million, to award a concession contract.
Thursday, July 22, 2010
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.
On April 19 the prequalification process will be held for companies interested in buying 51% of the shares of the electricity distribution companies in Panama.
The verification commission has concluded that all of the companies interested in buying the 51% stake in the electricity distributors are eligible to submit bids.
EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.
Through amendments to the law, the Panamanian government is aiming to improve conditions in the electricity market.
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