AES has announced that in early 2016 it will start construction of a 381 MW power plant based on natural gas in the province of Colon.

The power generated at the plant will be distributed according to the terms of the newly awarded contract for 350 MW to Gas Natural Atlántico, a subsidiary of AES Corporation. Although the contract is for 350 MW, the plant will have capacity to generate 381 MW.

Prensa.com reports that “… The plant is to be built within 30 months from the signing of the contract. After completing the studies and agreements to import natural gas, the company expects to begin construction of field works in early 2016. ‘Combined cycle technology is the most efficient and environmentally friendly, because it reuses the heat from the exhaust gas turbine to produce steam and save fuel in electricity production achieving an efficiency of over 50%’ , said the manager of AES Panama, Miguel Bolinaga. ”

According Etesa, when the plant goes into operation in 2018, more expensive contracts which were made earlier and which sell at 16 cents per kWh will be replaced. “

Source: Prensa.com