In Panama, the executive authorized a credit line of up to $50 million for the state-owned Etesa to finance investments contemplated in the electric expansion plan.

The approval for the Empresa de Transmisión Eléctrica, S.A. (Etesa) to subscribe a line of credit with Banco General, will allow the state company to partially finance maintenance works to the electrical distribution network in the country.

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Prensa.com reviews that “… This credit line is part of the financing strategy defined by Etesa in the short, medium and long term to allow the sustainability of the company, whose business is to provide the service of high voltage energy transport from generation points to distribution centers.”

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The article adds that “… This system of financial operation will be managed by the company until it is able to make a bond issue for $500 million over 30 years, thereby hoping to pay off all outstanding debts.”

Regarding the electricity generation in the country, official sources detail that during the first ten months of the year, 72% of the electricity was generated with hydraulic sources, 20% thermal, 5% wind, 2% solar and 1% by auto generation.