From AES Panama's statement:
President Martinelli with Andrew Vesey, COO of AES Corporation, opened the largest hydroelectric plant built in the last 30 years.
Changuinola I to contribute 15% of the country's annual energy demand
With an investment of over 4.63 billion and installed capacity of 223 MW which will generate about 1.046 GWh, Panama AES has opened the Changuinola I Hydroelectric station located in Bocas del Toro, the most important power generation project in the last 30 years in Panama and Central America. The hydroelectric complex will provide 15% of the country’s annual energy demand, offering the most competitive prices.
During a technical visit as part of the opening of the Changuinola I Hydroelectric Plant, the President of the Republic, Ricardo Martinelli and his team, accompanied by Executive Vice President and Chief Operating Officer of Global Utilities Group of AES Corporation Andrew Vesey and Vice President for Central America and the Caribbean AES, Marco De la Rosa, performed the connection with the National Dispatch Center, ETESA, to coordinate the linking of the generating units to the Central System for National Interconnection.
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With a total investment of $600 million construction of the Changuinola I hydroelectric project in Panama has been completed.
The work developed by AES Changuinola, will become operational by the end of this month providing the national energy system with 223 megawatts.
The Panamanian project is now 80% through its plan and expects to begin operations in May 2011.
The project, located near the northern border with Costa Rica in Bocas del Toro, will supply 223MW of power to the national grid, equivalent to 15% of Panama's current electricity consumption.
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.
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.
AES Panama is trying to recover the concession for hydroelectric development in Bocas del Toro, and is offering more power plants.
In June 2011 the National Authority of Public Services (ASEP) canceled the concession for the construction of the second phase of the Changuinola hydro station planned in Law 6 of February 3, 1997.