The deadline for the Panama NG Power to submit a clarification of financial information for the construction of the 670 MW natural gas plant was extended to December 26th.

After a judicial ruling was issued in December 2017 allowing Panama NG Power 150 days to prove that it has the economic capacity to develop the project, the process suffered several setbacks, because according to the company’s interpretation, the deadline began on March 8, 2018, but the National Public Services Authority (Asep) stated it was expired at the beginning of June of this year.

See “Central America: $1.6 billion in Energy Projects”

After the incident between Asep and the project developer was resolved, the financial closure for the construction of the thermoelectric plant was delivered, and now Panama NG Power received a new deadline to explain the information in the report, which expires on December 26th of this year.

Prensa.com reports that “… When the documentation was delivered, the National Authority of Public Services (ASEP) reviewed the information, but it was known that the regulatory requested clarification of some details, for which the company asked to be given an additional period of 90 days or three months, said the entity when consulted by this newspaper, without giving details regarding the information that is needed.”

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The article adds that “… The NG Power project, called Telfers, would have a capacity of 670 megawatts, based on liquefied natural gas. Its insertion into Panama’s electricity system would have consequences for the electricity industry. Practically the energy contracting would be taken over and there would be no need to tender for the next few years.”

See project history.