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 ajudicial rulingwas issuedby 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.
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.
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. to build a thermoelectric plant with an installed capacity of 670 MW.
Eighteen months is the timeframe for transforming the thermoelectric plant operated by Generating Pan Am Generating en La Chorrera, replacing bunker fuel with natural gas.
The expansion project to increase generation capacity by 60 MW involves stopping using bunker fuel and starting generating energy from natural gas, according to the transition timetable presented by Pan Am Generating Ltd.
The Public Services Authority has denied extension request by Panamá NG Power S.A. to submit information on funding for the 670 MW plant.
Prensa.com reports that "... The requirement for 'financial closure', or definition of project financing, must be presented on October 31st this year, but the company asked the Asep, on 27 August, for an extension for its submission. "
An environmental impact study has been presented for the construction of a plant for power generation based on natural gas called Tocumen, in the province of Panama.
The company SoEnergy S. de RL Panama has presented an environmental impact study for the construction and operation of a power generation plant based on natural gas in the village of Tocumen, district of Panama, province of Panama.
AES Panama has presented the government with a proposal to build a power generation plant and a port terminal for transferring the gas.
With an investment which would be around $350 million AES Panama is proposing building a power generation plant based on gas, which would help alleviate the power supply problems affecting the country. The plan also includes the construction of a port terminal for easy transport and storage of gas.
Energy EPM which already has a presence in Guatemala, El Salvador and Panama, has reaffirmed its interest in the region with the opening of another branch.
From a statement issued by EPM Group:
The Board of EPM authorized at its meeting on Tuesday the establishment of a branch of its organization in Costa Rica as part of an internationalization strategy that seeks to explore new business opportunities in the neighboring country, listed as one of EPM's target markets.
The Panama company NG Power was the only bidder in the tender to generate electricity from natural gas for 20 years at a price of 8 cents per kilowatt hour.
"The prices are pretty good. We will take the necessary steps to make a final decision for the contracts," said Fernando Marciscano CEO of the Empresa de Transmisión Eléctrica, S.A. (Etesa), while downplaying criticism of the bidding process in light of the fact that at last moment only temporarily or permanently licensed firms were allowed to participate, when the tender had originally been open," noted an article in Prensa.com .
The documents for the tender involving investments of hundreds of millions of dollars underwent significant changes at the last minute.
"This is one of the largest businesses in the energy industry in Panama: a contract that involves the construction of a plant which may require an investment of over one billion dollars, and through which energy will be provided for the period from March 2017 to February 2036," reported Prensa.com.
Empresa de Transmisión Eléctrica S.A. will be awarding a contract for long-term supply of Power and Energy via Natural Gas.
The date for receipt of bids is scheduled for April 30, 2013.
The purpose of the tender is a contract for the long-term supply of power and energy exclusively for electricity generation based on natural gas, for the period from the first of March 2017 to February 29, 2036, in order to attend to the requirements of Elektra Noreste, S.A., Empresa de Distribución Eléctrica Metro-Oeste, S.A. and Empresa de Distribución Chiriquí, S.A.