Odebrecht's Hydroelectric Concession Recalled

The construction company has one week to respond to the proposal put forward by the Panamanian government, which is geared towards cancelling the award of the Chan II hydroelectric station at no cost to the State.

Friday, January 27, 2017

The Ministry of Finance submitted the proposal to the Brazilian construction company on January 26, and it has one week to respond and start to coordinate the withdrawal from the construction project on the dam now known as Bocas del Toro.

"... The information was confirmed by De La Guardia to the media after a meeting with the Prosecutor of the Nation, Kenya Porcell.  'The government's position was set out, the document was handed over in order to finish as soon as possible, said the official. He added that the State set out in the negotiations that the cancellation of the concession would be without payment of financial compensation from public funds." 

Prensa.com reports that "...The contract for the design and construction of the hydroelectric plant Bocas del Toro, formerly called Chan 2, has received two addendums to extend the period of construction of the work awarded to the company Odebrecht Energy Luxembourg on June 5, 2014, now called Odebrecht Latin Fund."

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More on this topic

Future of Hydroelectric Chan II Redefined

April 2017

Empresa de Generación Eléctrica will now be responsible for the concession, while the Varela administration evaluates how and when to re-tender the project.

From a statement issued by the Presidency of Panama:

The Cabinet Council approved on Tuesday the signing of a termination agreement, by mutual agreement, of the Partnership Agreement for the Chan II Hydroelectric Project.

Panama to Tender Hydroelectric Station Again

February 2017

After rescinding Odebrecht's concession to build the Bocas del Toro hydroelectric station, the government has announced that it will reformulate the project for a new tender procedure.

The aim of the Varela administration is to revisit the characteristics of the original project, which consisted of a concession to design, build and operate the hydroelectric plant in Bocas del Toro, formerly known as Chan II.

Hydroelectric Station in Bocas del Toro

September 2016

The project initially known as Chan II has been delayed because "the process of dialogue with communities needed for work to start has not finished."

The company Odebrecht Energy Luxembourg, now called Odebrecht Latin Fund, has twice requested the extension of the timeframe for construction of the project which was awarded to it in June 2014. According to the company, "...

Panama: Deadline Extended in Hydroelectric Chan II Tender

April 2014

At the request of the three companies interested in the 213 MW work, the deadline for submitting bids has been extended until May 6.

May 6 is the date for receipt of the proposals from the three companies interested in the design, financing, construction and operation of the hydroelectric dam Changuinola II, in the province of Bocas del Toro.

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