AES Corporation plans to construct the 150MW Changuinola 75 hydroelectric power plant in Panama.
The US$320M plant will be located in the Changuinola river basin, approximately 354km northwest of Panama City in the Province of Bocas del Toro. The project includes a 10-year power purchase agreement with Panama’s largest utility, Union Fenosa SA.
AES has begun the engineering and geo-technical work and plans to begin construction in 2007. The plant is scheduled to be operational by mid-2010.
‘This plant will provide a new, clean and low cost source of electricity for Panama at a time when the country is experiencing extremely high energy costs and high demand growth,’ said Andres Gluski, president of AES Latin America.
The plans were announced in a meeting with Panama’s President Martin Torrijos.