The first of three turbines at Bonyic hydroelectric station, built and operated by Empresas Públicas de Medellín, has started generating electricity, with an overall investment of $314 million, for a total of 32MW.
Ensa and Edemet-Edechi were the only companies that submitted bids to acquire a 51% stake in the electricity distribution companies who are already operating.
The shares will be sold in three packages. "The first one comprises of the western part of Panama City, the area west of Panama and the central provinces remain under the domain of Edemet. The company offered $570 million," reported Prensa.com.
The possibility of a change of hands of concessions for electricity distribution in Panama, has not hindered the projects for expansion of the system.
The demand for electricity in Panama is growing annually between 7 and 8%, and the three distributors, Edemet, Ensa Edechi have investment plans, which together total $480 million, to expand their networks over the next few years.
Two Colombian companies have submitted pre-qualification documents for the purchase of 51% of the shares of the electricity distributors Edemet and Edechi.
Promigas and Empresa de Energía del Pacífico S.A., presented the documentation to the National Authority of Public Services (ASEP) as part of the tender for the sale of the majority of the shares of the distributors, a concession contract for 15 years which expires October.
The sale of a 51% stake in electricity distribution companies will start in October.
An article in Prensa.com reports that "The process of buying stocks will last until June [2014], when it is expected that new contracts will be awarded."
EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.
The Corporate Group EPM (Empresas Públicas de Medellín) is dedicated to providing public services related to electricity, water, sanitation and telecommunications, through 12 subsidiaries. It is owned by the Municipality of Medellín, governed by Colombian commercial law.
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