Bajo de Mina Hydroelectric to Change Concessionaire

The Panamanian Justice nullified the 2006 ASEP decision to remove the project given to Julius Lisac and award it in 2007 to Ideal SA, owned by Carlos Slim.

Tuesday, November 16, 2010

The Public Services Authority of Panama (ASEP) should now stop work on the hydroelectric 85MW plant, to restore the original concessionaire, Lisac´s company.

Zelideth Cortez´s article in reported that "It all started when, in December 2006, the ASEP decided to take the award for the execution of the hydroelectric project given to Mina Hydro-Power Corp., arguing it had violated the contract, since it should have begun construction of the hydroelectric plant in October 2006. Subsequently, in May 2007, the Public Services Authority granted execution of the hydroelectric project to Ideal, SA.

The completion of the construction of the hydroelectric plant had been announced for September 2010.

¿Busca soluciones de inteligencia comercial para su empresa?

More on this topic

Mini Hydroelectricity Station Concession in Panama

July 2014

The award was given to the company Macano II Hydroelectric for the construction and operation of a 4.15 MW hydroelectric plant called RP-550, in the province of Chiriqui.

From a statement issued by the National Authority of Public Services:

Resolved to:

"...FIRST: AWARD to the business HIDROELÉCTRICA MACANO II, S.A., registered in the Listing 833362, Document 2597272, of the Microfilm Section of the Public Commercial Registry of Panama, Rights to Concession for the construction and operation of the hydropower plant called RP- 550, which use the waters of the River Piedra, located in the village of Paraiso and Guayabal and district of Boqueron, Chiriqui Province, with an installed capacity of 4.15 MW. "

Panama: Ownership of Hydroelectric Plant Still In Dispute

April 2011

The project in question is reaching 97% completion but it is still unclear how the dispute over its ownership between the original and new concession holder (Mexican born Carlos Slim) will be resolved.

According to Wilfredo Jordán writing for, "after almost five years the company Ideal Panama, owned by Carlos Slim, has finally completed the "Bajo de la Mina" (literally "under the mine") hydroelectric project.

Hydroelectric Project Speculation in Panama

May 2010

Most of the concessions to build hydroelectric power plants in the rivers of Chiriquí were granted without paying fees, for 50 years.

Sometime later, Mexican tycoon Carlos Slim entered the hydroelectricity market in Panama, offering almost $32 million for two of these concessions.

Panama cancels hydroelectric concessions

February 2009

During the term of the current government some 40 requests for hydroelectric concessions, that have not complied with the development of the projects, have been canceled. reports on its website: "Of the 40 rejected to date, 24 have already been tendered or are in the process, said the director of Electricity at the ASEP, Rafael De Gracia.