Tender for Construction of Hydropower Station in Panama

The Changuinola II project has been reopened and on April 25 proposals for its design, financing, construction and operation will be received.

Monday, March 10, 2014

On April 25, the Empresa de Generación Eléctrica (Egesa) will receive proposals from those interested in the design, financing, construction and operation of the hydroelectric station Chan II, which will produce 213.6 MW, fed from waters of the Changuinola River in the province of Bocas del Toro.

"Odebrecht Group, GDF Suez, and Enel Green Power have shown interest in participating in the tender, in which technical proposals will hold the most weight. This evaluation concept is known as a best value tender, in which the technical and economic analysis is done independently."

"The specification states that the Panamanian government, through Egesa, will have 23% of the shares of the hydropower station, while the company awarded the tender will control 77%. With this share scheme, the company will have the right to appoint 4 members of the board, and the state will select two members. "

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More on this topic

Panama: State Could Increase Participation in Chan II

January 2015

Changes to the contract with the construction company Odebrecht have enabled the Panamanian government to increase its stake in the plant from 23% to 49%.

Having renegotiated the contract with the construction company Odebrecht, an agreement was reached to establish the shareholding of the state through the Odebrecht (Egesa) and it was also established that the State will not fund cost overruns associated with the rise in the price of building materials.

Panama: $1049 billion for Hydropower Station Chan II

May 2014

GDF Suez and Enel Green Power did not submit bids and in the end the 50 year concession of Changuinola II went to the only remaining contestant, Oderbrecht Energy.

The financial offer made by the Brazilian company for the 213 MW hydro station exceeded, by $419 million, the cost of the Chan I plant, whose generating capacity is similar and which also uses the Changuinola river as a common source.

Panama: Only One Bid for Hydroelectric Chan II

May 2014

Three companies purchased the tender documents but only Odebrecht Energy submitted a proposal for the construction of the 213 MW dam.

Following the expiration of the four month period to prepare proposals, the Brazilian Odebrecht Energy Luxembourg, was the only company that submitted a bid for the construction of the project, estimated at $1 billion.

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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