The regulatory agency authorized Fountain Intertrade to increase generating capacity to 58MW from 23.88MW.
The resolution from the Public Utilities Authority authorizes an addendum to the Concession Agreement entered into with FOUNTAIN INTERTRADE CORP, registered at the Public Registry in File 561789, 1109747.
Besides authorizing the increase in base generation it also extends the deadline for commencement of construction in 4 months and modifies the amount of the performance bond.
The Spanish company FCC, which is already working in Panama on the construction of the Metro and the expansion of the Canal, will also build the ‘Bajo Frio’ dam, for the Norwegian concession holder Intertrade Fountain.
The project, at a cost of $86 million, includes construction of the dam in the province of Chiriqui and reconditioning of highways and access roads, construction of a bridge over the River Chiriqui and a 2.1 km long conducting channel .
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