Millicom Buys 55% of Navega for $60 millionMonday, March 16, 2009 With this transaction, Millicom International Cellular controls 100% of Navega. Navega was created in 2000 by Comcel which is part of Millicom, the Spanish company Iberdrola, EDP in Portugal and Teco Energy in the US, and it provides data transport services in Guatemala, El Salvador, Honduras and Nicaragua. Panama: Hydroelectric Projects Exceed $1.35 BillionTuesday, April 21, 2009 The 15 hydroelectric projects currently under construction in Panama have a value of $1.35 billion, and they will increase the installed capacity by 600 kilowatts. As reported by the Authority of Public Services (ASEP), the majority of the projects are being developed in Chiriquí and Bocas del Toro, on rivers with large flow. Nicaragua Awards Geothermal Exploration ContractTuesday, October 27, 2009 Ram Power Corp. and Magma Energy Corp. were awarded 2 geothermal energy exploration concessions. Known as "Volcán Mombacho" and "Caldera de Apoyo", the areas given under concession sum 200 square kilometers. Work in the area is expected to start in the first quarter of 2010, and last 27 months. $20 million in Oil Investments in GuatemalaFriday, January 11, 2013 Pacific Rubiales has announced a $1.7 billion investment in exploration and developments in Guatemala, Colombia, Peru, Brazil and Papua New Guinea. A spokesperson for the company noted that "While Colombia remains the main area for the production company and the focus of most of its activities and expenditures in 2013, we are taking our first important steps beyond its borders, with a major program that will have a high impact in Peru, Guatemala, Brazil and Papua New Guinea. " Pacific Rubiales Oil Company Sets Up in PanamaThursday, February 27, 2014 The firm will move its Board from Colombia to Panama in order to reduce the tax burden and to take advantage of better logistics. The company which carries out oil and gas exploration and production activities in Colombia, selling most of Colombia's oil, has been linked to this country since the Government introduced incentives to attract foreign investment to the sector, and has now announced that it will move its Directive Board to Panama. Lower Energy Toll in GuatemalaThursday, July 11, 2013 Companies which transport energy charged $51 million during 2013 and 2015, $28 million less than in the previous biennium. As explained by Carmen Urízar, president of the National Energy Commission (CNEE), the change means a "lower income for transport companies," but "has a benefit, impacting the fee for the end user". Energy: Lawsuit Against State-Owned CompanyMonday, October 22, 2018 Helium Energy Panama filed a lawsuit against Etesa for non-conformity with the result of a wind energy tender. Helium Energy Panama, a wind energy generator, filed a lawsuit in the Third Chamber of the Supreme Court of Justice against the state-owned Empresa de Transmision Electrica S.A. (Etesa) for more than $50 million. Honduras Seeks Solutions to Energy CrisisThursday, September 22, 2011 The National Electric Power Company has signed an agreement with the company pHp Energy International, for the generation of hydroelectric power in a portable manner. A press release from the Presidency of the Republic of Honduras reads: Litigation Over Hydroelectric Concession in PanamaTuesday, June 18, 2013 Transglobal Green Energy has summoned the Panamanian government to make an agreement over a hydroelectricity concession which was annulled and then granted to a company belonging to Carlos Slim. June 24 is the deadline that Transglobal company lawyers have given the Government to settle in an amicable way the case regarding the concession of a hydroelectic station in the Rio Chiriqui Viejo, before going to an arbitration process. AES Seeks to Diversify Services in El SalvadorThursday, December 8, 2011 The AES Group, through an investment of $ 4 million, plans to offer energy storage services. The company is currently negotiating with the government to bring to the country its AES Energy Storage division. Further Delays for Energy Investments at La UniónMonday, January 18, 2010 The construction of two power plants at the Port of La Unión, El Salvador, has been delayed again. One of the plants would use coal and the other natural gas. Investment in both would sum $1.5 billion. Tuxtla Summit launches Mesoamérica ProjectThursday, July 30, 2009 The Tuxtla Summit concluded with the full incorporation of Colombia and new compromises under "Proyecto Mesoamérica" In the final declaration, it was established to "accelerate the electrical interconnection in the region, and conclude works on the Mesoamerican Information Highway (internet link)". TECO Guatemala Income Drops 17%Friday, August 14, 2009 Sales summed $21.1 million in the first half of the year, 17% less than the same period of 2008, when $25.4 million were sold. Statements presented to the U.S. Securities and Exchanges Commission report a $2.5 million reduction in net income, "as a result of the reduction of the Distribution Added Value (VAD), from the sale price...". Panama: $600 Million for Coal PlantMonday, September 14, 2009 The Government expects to invite bids for the construction of a coal power plant in 2010. It would generate 300 megawatts, and could be operational in 2014. Study Confirms Nicaraguan Oil PotentialWednesday, December 2, 2009 The area given under concession to Infinity Resources would contain 3 structures with potential for over 3.00 billion barrels of oil. The figures are a result of a study conducted by Dutch company Fugro Data Services and Brazilian corporation "Consultoría em Geología Geofísica e Informatica de Petroleo". |
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