This is an exciting time in Panama as the growth rate continues to accelerate.  In order to insure long term growth, plans are underway to explore all energy resources from solar to wind generation along with increased government support for hydro projects here in Chiriqui. Economic growth in the last decade and the foreseeable growth in the near future presents great opportunities for power generators throughout Latin America.

Latin American economies will need to invest $1.3 trillion in energy over the next 20 years, said the vice president of Energy at the Development Bank of Latin America-CAF, Hamilton Moss, during a presentation in Montevideo of the report “Energy: An insight into the challenges and opportunities in Latin America and the Caribbean”, sponsored by CAF and which involved eight regional organizations.

“… Sustained economic growth in the region, although at a lower rate than in 2010, encourages continued investment aimed at harnessing the dynamism of domestic markets. ”

“… It is essential to channel income into strategic investments in order to ensure that future development is less dependent on imported technology and exports of primary products.”

“… The final energy demand in the region in 2011 reached 4.353 million boe. The growth shows the greatest amount of dynamism in the decade 2000-2010 (34.23%) compared to 1990-2000 (31.36%), a trend which was interrupted in 2009 due to the impact of the aforementioned global economic crisis . “

Source: CentralAmericaData.COM