Enel Green Power SpA announced on Thursday it has secured a contract to supply a total of 31 million kWh of clean energy in Panama over five years.

Enel Green Power Panama (EGPP) has signed a power purchase agreement (PPA) with state lender National Bank of Panama (Banconal). Under its terms, the Panamanian subsidiary of Italy’s Enel SpA (BIT:ENEL) will energise five of the bank’s branches, allowing Banconal to achieve an energy saving target of about EUR 420,000 (USD 496,000), the energy company said.

EGPP secured the PPA by making the most competitive offer, among 31 other companies, in a competitive process held by the financial institution. Banconal is now a large-scale client with consumption exceeding 100 kW at five of its premises, Enel noted.

EGPP has a combined capacity of 362 MW of solar and hydropower in Panama, according to EGP’s website.
Stay Safe!!