Progress So Far of a $1 billion Investment

The 380 MW natural gas plant being built by AES in Colon, Panama, is currently 30% complete and the start of operations remains scheduled for 2018.

Friday, February 24, 2017

The plant, whose construction started in May last year, will have three generators, three gas turbines and one steam turbine, reaching a total installed capacity of 381 MW.

Prensa.com reports that "...Among the civil works that have already been completed, are the foundations of the first two generating units, pile-driving and soil improvement works, executed according to the geotechnical conditions of Colon. As another milestone, the company said that it has now finished strengthening the ground with more than 200 thousand steel piles placed in the construction area for the gas storage tank and it has also completed dredging works."

The project is being financed with a syndicated loan from the CABEI, Banistmo, Bancolombia and other banks. 

Through its subsidiary Gas Natural Atlantic, AES Corporation won the contract to supply power for 10 years starting from 2018, after submitting the lowest price among 27 bidders.

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More on this topic

Natural Gas Plant Starts Operations

August 2018

The electric power generation plant based on liquefied natural gas has started operating in Colón, Panama, with an installed capacity of 381 MW.

The plant, whose construction began in May 2016, has three generators, three gas turbines and one steam turbine, giving it a total installed capacity of 381 MW.

Implications of a $1 billion Investment

June 2016

The 380 MW natural gas plant to be built by AES in Panama promises to change the country's energy matrix, and the way energy is generated and distributed in Central America.

The economic flow that has already started with the construction of the gas plant in the province of Colon will be felt not only in the energy sector in Panama, which could become an energy generating and distribution hub in the region, but also in other productive sectors that will benefit from greater stability in energy costs and generate greater dynamism in logistics and shipping.

Panama: 400,000 tons of LNG Could Be Imported per Year

March 2016

The company Engie has also announced the construction of a plant with storage capacity of 180,000 cubic meters for the generation of 350 MW.

From a statement issued by Engie:

ENGIE announces the signature of a binding Memorandum of Understanding with Gas Natural Atlántico, under which ENGIE will supply up to 400,000 tonnes of LNG per year from 2018 on a 10-year period at Costa Norte LNG Terminal in the Colon Province, Panama.

$100 million Pipeline Construction Being Assessed

April 2015

The company AES is studying the feasibility of expanding the Andrés terminal in the Dominican Republic in order to export liquefied natural gas and build a pipeline with capacity to generate 1,000 MW of energy.

For the expansion of the terminal at Andrés an $25 million investment is estimated, while for pipeline construction the company AES plans to invest $100 million.

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