Booming Energy Rental Business

Growing by 10% a year as Panama is currently doing is energy intensive, meaning that the demand for rental generators is constantly growing.

Thursday, May 3, 2012

Project developers, subcontractors and promoters of artistic events require power permanently and this is where companies that rent electricity generators come in, providing a compliment to the traditional distribution system.

One of the international companies operating in this sector is the Scottish firm Aggreko, which established its regional headquarters in Panama as well as its hub (operations center). It began operations in 2005 providing power to Bocas Fruit Company and in 2009, the government hired 100 MW to cope with possible energy shortages , reported Capital.com.pa.

Aggreko is building its new regional hub and training center in Howard, in the Panama-Pacific Special Zone with an investment between $2 million to $3 million. It will have an approximate area of 11,000 m2 and will be completed by the end of the year.

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More on this topic

Industrialists Demand Recognition for Power Supply

November 2013

The industrial sector in Panama is saying that during last summer's crisis they were only paid for the energy generated without receiving recognition for the installed power.

They have asked the National Authority of Public Services (ASEP) to recognize the 300 megawatts of electrical power that they have installed in their plants.

Duplication Power Generation Tenders

October 2013

Panama launched a tender for 80 MW of backup power generation for the dry season, plus another for new plants for the same amount and same period.

Empresa de Transmisión Eléctrica S.A. (Egesa) is the entity which launched the tender for equipment rental and Electricity Transmission Company SA (Etesa) launched the tender for contracts for new plants.

Solar Plant Inaugurated in Costa Rica

November 2012

Operated by the state run energy company ICE and with a capacity of 1 MW, the project is the first of its kind in the country.

The plant is called "Solar Park Miravalles" and is located in La Fortuna de Bagaces, Guanacaste.

It contains 4,300 photovoltaic panels of 235 watts each, and was funded with a grant of $9 million from the Government of Japan.

GE to Increase Investment in Panama

June 2011

Invoking Law 41 regarding multinational headquarters, General Electric (GE), is looking at setting up a regional office in the country.

If the project is put into action, the multinational would attend to all its operations in the Caribbean from Panama, devoting more than a million dollars to expanding infrastructure and increasing the return of workers.

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