AES Panama is trying to recover the concession for hydroelectric development in Bocas del Toro, and is offering more power plants.
In June 2011 the National Authority of Public Services (ASEP) canceled the concession for the construction of the second phase of the Changuinola hydro station planned in Law 6 of February 3, 1997. The reason given for the cancellation was that the operations of AES Changuinola II in Panama would exceed the limit allowed by law for energy, set at 40% of the energy consumed by the market.
Private generation companies have described a possible government involvement in the electricity market as unfair.
The Government has indicated its intention to enter the area through the construction of a hydroelectricity company and thermal generator.
In the view of generators currently operating in the country, such works would receive benefits in terms of taxes and procedures and they argue that this would discourage new generators from investing in the country, because they would not feel comfortable competing with the government.
The reservoir filling stage concluded, allowing to move forward with the preparations for the central’s operations and add 223 megawatts of renewable energy to the system.
The reservoir at the Changuinola river has reached 165 meters above sea level, the level expected to announce that the Changuinola I central finished the reservoir filling stage and moves forward to the filling of the tunnel in order to begin trials.
The cost of the hydroelectric project being undertaken by AES in Panama is estimated to increase due to the effects of flooding and higher land purchase prices.
The Changuinola I hydroelectric project, also known as Chan 75, will use the flow of the rivers Changuinola and Culubre to generate up to 223 MW of power, or 1,046 GWh per year. Panama's current energy capacity is up to 1,534 MW with annual production of 6,000 GWh. Hence Changuinola I will increase installed capacity by 15% and production by 18%.
22 new energy generation projects are planned for the next four years.
They will add 1.061 MW to the country’s power grid, an 87% increase over Panama’s current energy generation capacity (1.208 MW).
“The focus will be put on hydroelectric power generation projects, in which $1.73 billion will be invested”, reported Panamá América. “Additionally, two wind power farms are being built for an estimated $1 billion, plus $1.2 billion in thermal generation projects”.
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In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility. The formal cornerstone laying ceremony took place on October 25, 2007.
The project's total completion represents an investment of approximately $563 million and the estimated date for the Changuinola hydro power plant to go into commercial operation is the first quarter of 2011. Through this new facility, AES contributes to the country's development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year.
The construction of the new Changuinola I Hydro Power Plant:
* is an asset to Panama
* will generate clean and 100% Panamanian energy
* will create opportunities for previously excluded populations
* will contribute to solve the country's energy situation
* will help Panama to continue growing
The construction and operation of the hydro power plant will be under the responsibility of AES, a multinational energy corporation with world-class standards and an active presence in Panama.
Operates in Panama
Phone: (507) 206-2600
AES Panama is the largest electricity generation company in Panama, in terms of installed capacity as well as delivered energy.
AES Panama is a subsidiary of AES Corporation, with headquarters in Arlington, Virgina, United States, and holds the 49% of shares in the operations of this generating company.
Since late 2007, AES Panama owns four hydroelectric plants with an installed capacity of 482 Megawatts: Bayano (260 MW), Estí (120 MW), La Estrella (47.2 MW), and Los Valles (54.8 MW).
Our main clients are the three energy distribution companies in Panama: Elektra Noreste, S.A., Empresa de Distribución Eléctrica Metro-Oeste, S.A., and Empresa de Distribución Eléctrica Chiriquí, S.A., which represent the 95% of the company’s energy sales. The remaining 5% corresponds to energy sales to Great Costumers, which are businesses with monthly energy consumption greater than 100 kilowatts.
Operates in Panama
Phone: (507) 206-2652