Live Invest Panama found this article on La Prensa’s online news section posted September 22, 2010 about a new hydro power plant in the province of Bocas Del Toro which is 80% complete and estimated to be completed by May, 2011.
New Hydro Power Plant Almost Ready
The hydroelectric project Changuinola I, which is being built on the river of the same name in the province of Bocas del Toro, is more than 80 percent complete and is expected to start generating power next May.
The plant will provide 223 megawatts of electricity when operating at full capacity, said Humberto González, director of corporate affairs for AES Panama. González said that is equivalent to 15 percent of electricity consumption in the country.
The project will end up costing $615 million. The company is also looking at starting a second project, named Changuinola II, to see if it is feasible.
Information from the AES Changuinola’s website
In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility. The formal cornerstone laying ceremony took place on October 25, 2007.
Through this new facility, AES contributes to the country’s development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year.
The construction of the new Changuinola I Hydro Power Plant:
- will generate clean and 100% Panamanian energy
- will create opportunities for previously excluded populations
- will contribute to solve the country’s energy situation
- will help Panama to continue growing