The first of three turbines at Bonyic hydroelectric station, built and operated by Empresas Públicas de Medellín, has started generating electricity, with an overall investment of $314 million, for a total of 32MW.
From a statement issued by Empresas Públicas de Medellín (EPM):
Hydroelectric Bonyic, part of the EPM Group, is now uploading power to the electrical system of Panama
President Varela has announced the revival of a project that has been elusive for several years due to lack of economic viability.
An article on Larepublica.co reports on the reactivation of the power interconnection project with Colombia "... and that the project with Empresas Públicas de Medellín (EPM) will be refloated, this being the company that is building the main electricity dams in the in the neighboring country."
Ensa and Edemet-Edechi were the only companies that submitted bids to acquire a 51% stake in the electricity distribution companies who are already operating.
The shares will be sold in three packages. "The first one comprises of the western part of Panama City, the area west of Panama and the central provinces remain under the domain of Edemet. The company offered $570 million," reported Prensa.com.
The possibility of a change of hands of concessions for electricity distribution in Panama, has not hindered the projects for expansion of the system.
The demand for electricity in Panama is growing annually between 7 and 8%, and the three distributors, Edemet, Ensa Edechi have investment plans, which together total $480 million, to expand their networks over the next few years.
Two Colombian companies have submitted pre-qualification documents for the purchase of 51% of the shares of the electricity distributors Edemet and Edechi.
Promigas and Empresa de Energía del Pacífico S.A., presented the documentation to the National Authority of Public Services (ASEP) as part of the tender for the sale of the majority of the shares of the distributors, a concession contract for 15 years which expires October.
The sale of a 51% stake in electricity distribution companies will start in October.
An article in Prensa.com reports that "The process of buying stocks will last until June [2014], when it is expected that new contracts will be awarded."
"In April, it will be revealed which of the companies in the running are prequalified. These companies will then have to submit an economic proposal and the highest bidder will win the tender and will retain 51% of the shares of the concessionaires, which are currently held by the Spanish company Gas Natural Fenosa and the Colombian company Empresas Públicas de Medellín, owner of Elektra Noreste. "
Empresas Públicas de Medellín (EPM) will consolidate its subsidiaries into one or two companies in Panama.
A press release from Empresas Públicas de Medellín (EPM) states:
In order to simplify, optimize and streamline the international corporate structure of the EPM Group, the board of the EPM approved during its meeting on Wednesday the implementation of a reorganization project for several of the companies located in Panama, Guatemala, El Salvador and the Cayman Islands.
Direct investment by Colombian companies came to about $1 billion in 2010, a giant leap forward compared to the $27 million in 2004.
Central America has become a kind of "Promised Land" for large companies in Colombia, writes ElTiempo.com.
The latest example of large-scale landing in the economies of the isthmus is the recent $801 million purchase of the assets of the HSBC bank in Costa Rica, El Salvador and Honduras by Banco Davivienda.
EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.
The Corporate Group EPM (Empresas Públicas de Medellín) is dedicated to providing public services related to electricity, water, sanitation and telecommunications, through 12 subsidiaries. It is owned by the Municipality of Medellín, governed by Colombian commercial law.
Colombian Group EPM acquired 80% stake in Empresa Electrica de Guatemala (EEGSA).
Empresas Publicas de Medellin (EPM), leading provider of public services in Colombia, will expand its presence in Central America.
Sigloxxi.com reports, "The sale, according to EEGSA´s manager, Jorge Alonso, was decided by company shareholders, consisting of firms Iberdrola of Spain, Teco Energy and Electricity of Portugal, although the distributor was unaware of negotiation details.”