Changuinola I Development Costs Increase by $100 Million
The cost of the hydroelectric project being undertaken by AES in Panama is estimated to increase due to the effects of flooding and higher land purchase prices.
Thursday, August 19, 2010
The Changuinola I hydroelectric project, also known as Chan 75, will use the flow of the rivers Changuinola and Culubre to generate up to 223 MW of power, or 1,046 GWh per year. Panama's current energy capacity is up to 1,534 MW with annual production of 6,000 GWh. Hence Changuinola I will increase installed capacity by 15% and production by 18%.
With a total investment of $600 million construction of the Changuinola I hydroelectric project in Panama has been completed.
The Panamanian project is now 80% through its plan and expects to begin operations in May 2011.
With an investment of over $4.6 billion and an installed capacity of 223 MW, AES Panama has opened the Changuinola I Hydroelectric Plant located in Bocas del Toro.
AES Panama is trying to recover the concession for hydroelectric development in Bocas del Toro, and is offering more power plants.
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