Untitled Document

European bank considers funding Panama's 115-MW Los Mares

The European Investment Bank (EIB) is considering a proposal to provide 170 million euros (US$216 million) in financing to construct the three-plant, 115-MW Dos Mares hydroelectric complex in Panama.

EIB said it has under appraisal the proposal to provide funds to developers Alternegy SA and Bontex SA for the total 340 million euro (US$433 million) project.

Dos Mares is to be a cascade of three run-of-river hydropower plants totaling 115 MW, located in Panama's Chiriqui Province.

EIB considered the funding to support European Union presence in Latin America through direct foreign investment and to support economic development of Panama through improved electricity supply from a renewable energy source.

The bank said the project sponsors have conducted an environmental impact assessment, including public consultation, for all three plants, finding the project does not generate any major negative social or environmental effects. Nevertheless, mitigation measures have been put in place including the planting of 20 hectares of mixed forest, EIB said.

In 2007, the government of Panama granted concessions to Alternegy to build and operate the 54-MW Prudencia and 35-MW Lorena projects on the Chiriqui River in Chiriqui Province. (HNN 12/6/07)

Latest Slideshow

Your Picture Here: Send Us Your Dam Selfie

View Slideshow >>

more slideshows >>   

Hydro Whitepapers

Hydro Industry Financials

Most Read Articles

Recent Comments

Continuing Education

Professional Development Hours
To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Volume 34, Issue 3
Volume 23, Issue 2

Archived Articles

2006 | 2007 | 2008 | 2009 | 2010 2011 | 2012 | 2013
Hydro Review Past Issues

Buyers Guide Companies

Synergy Holdings Inc

Renewable energy for residential, commercial, m...

WorleyParsons – Brasil

Zollern Transmissões Mecânicas Ltda

Manufacturers of plain bearings, hydro power be...

Potencia Industrial SA

Manufactures hydroelectricelectric generators r...

Rubberart Artefatos de Borracha Ltda

Specializes in rubber seals for power generatio...