Panama is developing 16 hydroelectric power projects with a total of investment of more than US1 billion to satisfy domestic power demand, news outlets reported.

These private sector projects are expected to be completed by 2015.

The new hydro projects are projected to add 700 MW of capacity to the power grid of the Central American country, according to People's Daily Online.

In other news, Brazilian state-run utility holding group and hydro generator Eletrobras will open an office in Panama as part of its internationalization process, a spokesperson for the company told Business News Americas.

This will be Eletrobras' third international office. The group opened offices in Uruguay and Peru in 2010.

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