A capitalization agreement for the Gatún generator, which would add about 470 mega watts to the country’s energy matrix, was signed by the Minister of Economy and Finance, Héctor Alexander, representing the Panamanian State; Miguel Bolinaga, president and Oscar Batres, treasurer of AES Panama.

With this rubric, among the majority partners of the company AES Panama, for the sub-contribution with regard to the construction and operation of the investment in Gatún generator, the strengthening of the national energy matrix has been facilitated, said Francisco Alvarez, director of Investments, Concessions and State Risks (Dicre) of the Ministry of Economy and Finance (MEF).

Álvarez added: “It is a good time, since the State becomes an investor in this important project, which will add a significant amount in terms of the energy matrix, which will be produced in that natural gas plant.”

For his part, the president of AES Panama, pointed out that what is being signed is the participation in the Gatún project, which is one of the largest in Central America.

Generator Gatún has about 61% progress and will enter into operation in the middle of 2024. The first turbines are expected to start working in January, which will bring much more stable, cheaper energy for all Panamanians, Bolinaga said.

Investment in natural gas is positive for the Panamanian State, since it owns 50.4% of the AES Panama company, said the president of AES.

In the signing of the agreement, the following participated: Eder Córdoba, director of Public Financing; Dilka Escobar, deputy director of Dicre; Angélica Bertoli, legal director of AES Panama and Lidia Acosta, legal advisor of the Directorate of Public Financing of the MEF.