The state lacks the funds needed to keep power plants operating.
The way some of the country's hydroelectric plants have been handled has led to an increase in rumors about a possible "informal" privatization of Empresa Nacional de Energía Eléctrica (ENEE).
"The case is illustrated by an agreement that the former manager of Enee Roberto Martinez signed with the company PHP, which allowed PHP to generate four to six megawatts in parallel with the state run power station El Níspero, which has a plant that generates 22.5 megawatts."
Honduran investors suspect the government of favoring a Brazilian company for the construction of two hydroelectric plants.
The Honduran business sector has rang alarm bells at what they believe is a lack of transparency and favoritism by the local authorities to a Brazilian company over the building of two power plants, a 600 million dollars venture.
In Honduras, corporate spokespersons are objecting to the terms of a thermal generation electricity purchase agreement awarded by the ENEE to Westport Finance.
Among the criticisms of the contract for the purchase of thermal power authorized by the Executive on 28th September, are that the conditions regarding the time frame differ to those approved by the Council of Ministers for the procurement of 100 MW.
The funding of $300 million for the construction of the Patuca III hydroelectric project has been approved by the bank Eximbank.
Financial Secretary, William Chong Wong said that negotiations of both the technical and political details with China have reached the final phase, which has led to the approval of funding by the bank.
Representatives of company Hidro-China are in the country analyzing possible renewable energy investment opportunities.
In meetings held with Honduran president, Porfirio Lobo, and the head of the National Energy Company, Roberto Martínez Lozano, the Chinese representatives described their interest in taking part in studies into the Patuca hydroelectric project and understanding the country's hydroelectric potential.
IDB funds will be used to strengthen power transmission.
The Manager of the National Electricity Company (ENEE), Roberto Martínez Lozano, referred to projects where such as the expansion of the Amarateca substation, the expansion of the Zamorano substation and improvement in the departments of Olancho , Francisco Morazan and El Paraiso.
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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