The European Investment Bank (EIB) is considering a proposal to fund construction of the 29-MW Barro Blanco hydroelectric project on Panama's Tabasara River.
EIB put the project under appraisal May 25, 2009, proposing to finance the hydro plant up to 40 million euros (US$56.5 million).
Panama utility regulator Autoridad Nacional de los Servicios Publicos (Asep) awarded a concession for the hydro project in 2007 to Generadora del Istmo S.A. (Genisa). Genisa bid US$750,000 for the concession. (HydroWorld 5/8/07)
EIB said the project consists of construction and operation of a run-of-river plant with associated daily regulation reservoir.
The bank said it is considering support of the project to contribute to economic development of Panama through improved electricity supply from renewable energy sources. It said Genisa has conducted a full environmental impact assessment of the project, including public consultation, in compliance with Panama law.
