The Energy Center of the Americas (Cela) signed an alliance with the Jurong Company to look for investors.
Jurong Consultants executive vice president, Er. HEE Ah Mui, informed Prensa.com: "As specialists in this type of activity and based on the company’s experience in the development of a project in Singapore similar to the one in Panama, they are convinced that they can attract large, multinational companies from the energy sector to invest in Panama. This is a very ambitious project worth hundreds of millions of dollars, and we are confident that, like Singapore, Panama will not be left behind."
The project under the name Energy Center of the Americas includes refineries, marine installations, petrochemical plants and storage terminals.
It is expected to start activities in 2011 and the initial phase of the project has a cost of $1.3 billion.
Henry Jimenez, vice president of CELA, told Pa-digital.com.pa: "We hope to begin the first phase of the project which is to be carried out in the Atlantic in April.
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
A Dominican company dedicated to providing consulting services, preventive and predictive maintenance on electrical systems in the energy, industrial and commercial sector
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (809) 540-8598 - (809) 540-8599