Radiography of a Power Generation Company


News from Panama / Monday, April 22nd, 2013

Fortuna is one of Panama’s largest facilities and it is located here in Chiriqui.  It produces 300 Mega watts and generates about 30% of the entire hydro eletric power supply in Panama.  You can slip  a couple of 747 jets inside this huge underground facility.

With a generating capacity of 300 MW, Enel Fortuna is one of the leading providers of electricity in Panama, with average annual earnings of $58 million in the last five years.

The recent financial statements submitted to the Panama Stock Exchange (BVP), for 2012, reveal that the company has achieved total revenues of $187.8 million, while last year the figure was $185 million.

In 2012, the company’s main business income came from contracted energy sales ($40.9 million), sales of energy in the spot market ($25.2 million) and ancillary services ($9.9 million). The main electrical generating activity is the operation of a 300 MW hydroelectric power plant located in the Rio Chiriqui, Chiriqui province.

Fortuna is responsible for operating and selling electricity in addition to its capacity to generate electricity for distribution companies, in accordance with the terms of power purchase contracts and sales through the spot market in Panama and other Central American nations.