The project with a cost of $500 million, which aims to generate 180 megawatts for the country, was approved in the National Assembly.
The Special Law for the Development of the Hydroelectric Project in Tumarín establishes, among other things, a deposit of $42 million to the company that will execute the project as a guarantee it will be done.
During the visit by the president of Brazil, Luis Ignacio Lula da Silva, Brazilian businessmen indicated that they are interested in exploring for oil and gas in Guatemala.
Energy and Mining Minister, Carlos Meany, said that during the Brazilian president’s stay in Guatemala, companies such as the state-owned Patrobras, indicated their interest in carrying out oil and gas exploration activities in the country, according to an article on Presnablibre.com.
The $350 million concession for the execution of the hydroelectric project is pending approval by the national assembly.
The consortium that will build the project that is expected to generate 180 megawatts is composed of the Brazilian group Queiroz Galvao, the Brazilian state-owned Petrobras Company, Nicaraguan businessmen linked to the Production and Finance Banks and the Italian Company Astaldi. 25% of the funds will be approved by investors and the remaining 75% by the Development Bank of Brazil.
The Brazilian state oil company, Petrobras offered the government of Honduras to invest US$50 million in plant to process oil and other lubricants.
The plant could be set up in the Caribbean region, according to a senior official at the Honduran embassy in Brazil. The offer followed a meeting between the Honduran president, Manuel Zelaya, and Petrobras chief executive Monaco de Melho.
The Brazilian oil company Petrobras is interested in building a refinery in Guatemala, using capital from both countries. They want to seek local alliances to increase oil production in Guatemala, Guatemala's Energy and Mines Minister Carlos Meany said.
The meeting with directors of the Brazilian company was part of yesterday's agenda during the visit to Brazil of President Álvaro Colom and his delegation.
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Astaldi Group is one of the most important construction companies in the world as well as a leader general contracting and project finance initiatives in Italy.
Operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama
Phone: (503) 2523-9500
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