The National Secretary of Energy in Panama has announced a 500 MW renewable energy and energy storage systems auction in power guarantees, to meet the growing demand for electricity in the country.
To be formally launched in February 2024, it will be the country's 1st long-term tender in 10 years exclusively for renewable energy. The government also says it is the 1st in the Central American region to incorporate energy storage systems in the auction process.
Of the winning projects, existing renewable energy will be contracted to start supplying clean energy to the grid by September 1, 2026, while for the new plants this deadline is set at January 1, 2029.
The government said this tender will guarantee clean energy power supply to the users served by discoms at improved electricity prices, while also generating green jobs and mobilize investments in the country's renewable energy sector. This will also bring down the country's dependence on fossil fuels.
It expects the tender to attract a large number of bidders which will make it very competitive.
The Energy Secretariat announced, "This tender confirms Panama as a destination for new local and international investments in clean energy and will contribute to future socioeconomic development, through the creation of synergies between the social, economic and environmental indicators of Panama and will position the country as a reliable energy HUB and clean technologies at the forefront of the region."
The government made this announcement in the Resolution No. MIPRE-2024-0001384.
It has directed the national electric transmission company Empresa de Transmisión Eléctrica SA (ETESA) to prepare the necessary documents to tender long-term purchase of energy, power and associated energy.
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