The expansion program of the electrical system in Panama foresees investments from Empresa de Transmisión Eléctrica S.A. of $483 million over the next eight years.
"Of this total, $395 million, or 81%, will be spent between 2013 and 2016. Included in this period is the construction of a third power transmission line from the Chiriqui province, to the capital city," reported Prensa.com.
Five of the thirty-nine power generators who participated in the last auction held by the Panamanian Electricity Transmission Company, have been awarded contracts to supply power for the period 2016-30.
The hydroelectric plants selected were, AES with $113.88 per megawatt, Hidro Piedra $ 116.52; Empresa de Transmisión Eléctrica with $118.13; Hydroelectric Bajos del Totuma with $124.24, and Saltos del Francoli with $124.51.
Generating companies have presented their surplus energy offers to distributors around the country.
As established in the Energy Policy implemented by the Martinelli administration, energy generating companies have made available to distributors 100% of their surplus that has not been previously contracted, for use in the second quarter of the year.