AES Panama has won a contract to sell electricity to the three distribution companies operating in Panama for the 2016-2030 period, at a cost of $0.11 per kW/hr.
With this contract, AES Panama maintains more than 90% of its firm capacity for the next six years (2013-2018) with 73% for 2019-2030 committed in long-term contracts.
Through a sustained investment policy, AES has increased the gross capacity of its hydroelectric plants by 194% and developed Panama’s hydraulic potential with the construction of the Estí and Changuinola I plants. This has allowed AES to maintain a historical contracted average of 92% in firm capacity and energy supply at long-term fixed prices with local distribution companies and large clients.
The company is one of the largest investors in Panama’s electric industry, with $1B invested in the upgrade and construction of five hydroelectric plants.