With a generating capacity of 300 MW, Enel Fortuna is one of the leading providers of electricity in Panama, with average annual earnings of $58 million in the last five years.
The recent financial statements submitted to the Panama Stock Exchange (BVP), for 2012, reveal that the company has achieved total revenues of $187.8 million, while last year the figure was $185 million.
The economic viability of the project will be tested in an upcoming auctions for rights of use and a tender for the supply of energy over a fixed time period.
In the auction for the rights of use to be held on August 16, six companies will take part out of a total of 17 who showed interest, according to the criteria of the project management company, ColombiaPanama Electric Interconnection (ICP).
Generating companies have presented their surplus energy offers to distributors around the country.
As established in the Energy Policy implemented by the Martinelli administration, energy generating companies have made available to distributors 100% of their surplus that has not been previously contracted, for use in the second quarter of the year.
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
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
"Integral Energy Solutions" for both the domestic and commercial market. Our mission is to design, develop and install modern systems of renewable energy which support the environment.
Operates in Panama, Nicaragua, Honduras, Guatemala, El Salvador and Costa Rica
Phone: (506) 2290 0668 - (506) 2290 2422
Consulting, Engineering, Equipment supply and power station construction for generation, transmission and distribution and industrial sector projects.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (503) 2223 0274 - (503) 2223 0276