In the auction for the rights of use to be held on August 16, six companies will take part out of a total of 17 who showed interest, according to the criteria of the project management company, ColombiaPanama Electric Interconnection (ICP).
An article in Prensa.com states that "Seven days after PCI holds the auction, the Electricity Transmission Company (Etesa) will carry out the tender for long-term power purchase.
The outcome of both events will depend on the self-sustainability of the interconnection, and economic contributions that have to be made by both countries to begin construction of the project. "
The offers from generators will determine if project funding is sustainable through the commercial use of interconnection with acceptable prices. Otherwise, the governments of Colombia and Panama will have to seek alternative financing for the project which they have undertaken to carry out.
Last week, Panamanian and Colombian authorities agreed on acceleratating the process of electrical interconnection.
The electric line will run for 614 kilometers, connecting substation Panamá II in El Pedregal with Cerromatoso in Colombia. 55 kilometers of underwater cable are included, 40 of them in Panamanian territory.
Agreements have still not been reached between suppliers and the company that owns the line, over financial, technical and socio-environmental aspects relating to the project viability.
The auction among power companies and the Colombian- Panamanian state company Interconexión Colombia Panamá S.A (ICP), responsible for positioning the power transmission line between Colombia and Panama, was planned for today August 21, but has been suspended because "despite the efforts of the parties involved, it was not possible to reach agreements on some conditions that are essential for the viability of the project, relating to financial, technical and socio-environmental aspects. "