AES PANAMA, A SUBSIDIARY OF US power company AES, has signed a US$275M, seven-year loan agreement to cover the total funding required for the completion of two hydro power projects in Panama.
The first project, the 122MW Esti hydroelectric project in the Gualaca region, is about 60% complete and is scheduled to be finished by November 2003. The second project is the expansion of AES’ 150MW Bayano hydro plant in the Los Algarrobos area of Chiriqui province. The Bayano project consists of the addition of a third 86MW turbine generator.