AES’s chief financial officer Kristina Lund, told a Panama investment forum in London in October, that the introduction of natural gas into Panama for the first time would allow it, and other import-dependent neighbours easy access to LNG supplies—prices for which tend to be less volatile than oil.
Panama is also looking to double its renewable energy capacity by 2050, much of which will go back into the country’s energy system to support an economy which grew by over 7% per year between 2001 and 2013, according to the World bank. Last year’s GDP growth slowed, but was still an impressive 4.9%.
“The bigger the (power generating) system, the less the volatility,” Ferrari said. “We would go from being a 1,500MW network in Panama to being a 10,000MW system in Central America. It will be more stable, and mitigate the risk of renewables.”
We invite you to visit our country and learn if Panama Real Estate is right for you.