New Opportunity for $900 million Gas Plant

One month after its license was canceled, a judicial ruling has reactivated the project to construct and operate a 670 MW natural gas plant, under the responsibility of NG Power.

Tuesday, January 16, 2018

With the ruling from the Supreme Court of Justice, the cancellation of the license to build the 670 MW thermoelectric plant, announced in December 2017 by the National Public Services Authority, is now null and void.

"... With this ruling, other decisions taken by the National Authority of Public Services (ASEP), which had denied the possibility of extending a period of 150 to 270 days for the company to present the economic backing for the work, are also left without effect."

From this moment, the authorities at Panamá NG Power "... have 150 days to demonstrate that they have the strength to continue with the project. This period will begin to take effect from the moment the judgment is signed and the measure is notified to the ASEP, which up until yesterday claimed to be unaware of the ruling and, therefore, would not be making any statements regarding this matter."

José Dapelo, President of Panama NG Power indicated that "... Our position is simple, all projects (for gas generation in Colon) must be realised. There should be fair competition and rules should be respected for everyone. Our project is much more efficient than the competition given the size and quality of the turbines'.

More on this topic

Uncertain Future for $900 million Project

June 2018

Panamanian authorities have declared the deadline passed for Panama NG Power to present evidence of economic backing for the construction of the 670 MW natural gas plant.

Last December a judicial ruling was issued by means of which Panama NG Power was granted 150 days to demonstrate that it has the economic capacity to develop the project. According to the company's interpretation, this time period began on March 8, 2018.  

Backwards Step for 670 MW Gas Plant

December 2017

The National Public Services Authority has canceled the license it had granted to the Panama NG Power to build and operate a thermoelectric generation plant in Colón, Panama.

Ending a process that lasted more than seven years, the National Public Services Authority has permanently canceled the license that had granted to Panama NG Power S.A.

Operations Postponed at 670 MW Gas Plant

October 2017

Panama NG Power has been given authorization to postpone until 2020 the start-up of operations of the natural gas-based generation plant to be built in Cristóbal, in the province of Colón.

The energy supply contracts signed between Panama NG Power and the energy distributors Edemet, Ensa and Edechi were modified so that the start-up of the natural gas plant could be postponed until 2020.

License Revoked for 670 MW Gas Plant

December 2014

The National Public Services Authority has revoked the final license granted to Panama NG Power for the construction and operation of a power plant in the province of Colón.

From the order given by the National Authority for Public Services in Panama (ASEP):

It is resolved:

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