Changuinola I Development Costs Increase by $100 Million

The cost of the hydroelectric project being undertaken by AES in Panama is estimated to increase due to the effects of flooding and higher land purchase prices.

Thursday, August 19, 2010

The Changuinola I hydroelectric project, also known as Chan 75, will use the flow of the rivers Changuinola and Culubre to generate up to 223 MW of power, or 1,046 GWh per year. Panama's current energy capacity is up to 1,534 MW with annual production of 6,000 GWh. Hence Changuinola I will increase installed capacity by 15% and production by 18%.

The total investment required for the construction was initially estimated at $600 million but is now predicted to cost an additional $100 million. The plant is scheduled to become commercially operational by the third quarter of 2011.

Angel López Guía writing for comments that, "to date the project has provided jobs for 2,136 people of which 491 (70%) are from the province of Bocas del Toro.

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More on this topic

Changuinola II Hydroelectric Station Still Under Discussion

December 2012

AES Panama is trying to recover the concession for hydroelectric development in Bocas del Toro, and is offering more power plants.

In June 2011 the National Authority of Public Services (ASEP) canceled the concession for the construction of the second phase of the Changuinola hydro station planned in Law 6 of February 3, 1997.

Changuinola I Hydroelectric Station Inaugurated

July 2012

With an investment of over $4.6 billion and an installed capacity of 223 MW, AES Panama has opened the Changuinola I Hydroelectric Plant located in Bocas del Toro.

From AES Panama's statement:

President Martinelli with Andrew Vesey, COO of AES Corporation, opened the largest hydroelectric plant built in the last 30 years.

Changuinola I to Start Operations Later this Month

September 2011

With a total investment of $600 million construction of the Changuinola I hydroelectric project in Panama has been completed.

The work developed by AES Changuinola, will become operational by the end of this month providing the national energy system with 223 megawatts.

Changuinola Hydroelectric Construction 80% Complete

August 2010

The Panamanian project is now 80% through its plan and expects to begin operations in May 2011.

The project, located near the northern border with Costa Rica in Bocas del Toro, will supply 223MW of power to the national grid, equivalent to 15% of Panama's current electricity consumption.