In Panama, the possibility of developing the Fourth Line of Electric Transmission is being analyzed under the parameters established by the Public-Private Association bill.
The public procurement process that was declared void at the beginning of the year was that the company winning the contest would have to make an investment with its resources to then operate the Fourth Line and thus recover the investment. The plan contemplated that it would later transfer the operations to Empresa de Transmisión Eléctrica (Etesa).
Moody's assigned to Empresa de Transmisión Eléctrica de Panamá a Baa1 issuer rating, arguing that it reflects key credit strengths and is the only electricity transmission company in the country.
Gilberto Ferrari, general manager of Empresa de Transmisión Eléctrica (Etesa) explained to Panamaamerica.com.pa that "... This qualification is one of the most important milestones in the history of the company and the energy sector of our country.
After several years of carrying out studies of the work, the governments announced that they plan to begin working on the standardization of regulations to sign the agreement of the electrical interconnection project.
In a press release published on March 19, Panama's Presidency stated that Panama's Energy Secretary, Victor Urrutia, informed that the Agreement required for the implementation of the electric interconnection project that will link the Andean and Central American systems will soon be signed.
In Panama, ASEP approved the reconsideration request presented by Etesa, opening the way to continue with the tender process for the Fourth Transmission Line.
Last week, it was reported that to continue with the tender process, the Public Services Authority (Asep) had requested from the Electric Transmission Company (Etesa) a justification for the development of the construction project and operation of the Fourth Transmission Line.
To continue with the tender process of the Fourth Transmission Line, ETESA will have to better justify the real need of the project and define the optimal date of entry into operation.
To continue with the tender process, the Public Services Authority (Asep) has requested from the Empresa de Transmisión Eléctrica (Etesa) a justification for the development of the construction project and operation of the Fourth Transmission Line.
With a $50 million loan from CABEI, ETESA will finance high-voltage infrastructure projects.
The purpose of this operation is to provide greater short-term resources to meet the priority investment needs of Empresa de Transmisión Eléctrica, S.A. (ETESA), accelerating the launch of activities related to the addition of assets in the company's high-voltage electrical infrastructure, informed the Central American Bank for Economic Integration (BCIE) last March 1.
Aiming to settle outstanding debts and finance part of the Electric Expansion Plan, in Panama Etesa will issue rotating bonds in the local market for up to $300 million, with a term of no more than ten years.
The issue has already been approved by the Board of Directors of Empresa de Transmisión Eléctrica S.A. (Etesa), by the National Economic Council and by the Cabinet Council, so that the bonds are placed in public auction, privately, by order book or any other method.
In Panama, the executive authorized a credit line of up to $50 million for the state-owned Etesa to finance investments contemplated in the electric expansion plan.
The approval for the Empresa de Transmisión Eléctrica, S.A. (Etesa) to subscribe a line of credit with Banco General, will allow the state company to partially finance maintenance works to the electrical distribution network in the country.
Helium Energy Panama filed a lawsuit against Etesa for non-conformity with the result of a wind energy tender.
Helium Energy Panama, a wind energy generator, filed a lawsuit in the Third Chamber of the Supreme Court of Justice against the state-owned Empresa de Transmision Electrica S.A. (Etesa) for more than $50 million.
The public purchase in question was published on September 11th, 2011, for which Etesa received tenders on November 8th of the same year. The companies that presented their proposals were Helium Energy Panama, Innovent Central America, Union Eolica Panameña and Fersa Panama.
The Panamanian government has authorized a $400 million loan between Empresa de Transimisión Eléctrica and Citibank, for the payment of the Third Transmission Line.
As detailed in the August 10 editions of the official newspaper, La Gaceta, the funds will be used to cancel Partial Payment Certificates, a format known as a Turnkey project.
In Panama, the 18 photovoltaic generation plants that together have an installed capacity of 143 MW, are still waiting for the government to grant new contracts.
According to statistics from the National Energy Secretariat, last year the country had an installed generation capacity of 3,423 MW, of which 4% corresponded to solar energy parks.
In Panama, discussion continues over a bill that would modify regulation of the electricity sector, including, among the most controversial changes, setting limits on concessions granted to companies.
For months, the Trade and Economic Affairs Commission in the Assembly of Panama has been discussing Bill 573, which modifies the regulatory framework for the provision of electricity services.
Empresa de Transmisión Eléctrica already has the endorsement to start the prequalification of companies, for the design and construction project of the fourth transmission line.
The company or consortium that wins the tender will also be responsible for obtaining the necessary funds to develop the work, estimated at $500 million.The Electricity Transmission Company (Etesa) will start paying in 2022, when the line is expected to start operating. For this reason, the manager of Etesa, Gilberto Ferrari, explained to Prensa.com that "... there will be no need to make a bond issue."
The state electricity transmission company is considering not holding any more special tenders for generators that use renewable resources, which will have to compete with all types of generators.
Representatives from the Electricity Transmission Company (Etesa) reported that with the modifications that are being made to the law, in future tenders for energy supply will compete with all other kinds of generation forms.
Approval has been given to the tender document to contract energy and firm power for the province of Darién, the Guna Yala region and the archipelagos of Las Perlas and San Blas.
The tender, to be published in PanamaCompra, is to contract Firm Power and Required Energy for Isolated Systems, located in the province of Darién, Guna Yala District, Las Perlas Archipelago and San Blas Archipelago, for the periods between September 1,2018 to June 30,2030, and from July 12020 to June 30,2030.