Over the past month, on February 2021, the United Nations (UN) placed Panama as an Energy Transition leader for enabling the Sustainable Development Goals into energy actions to transform this industry.

This recognition is connected to the Energy Transition Agenda 2020-2030 which is a road map towards decarbonization, digitalization and democratization in the generation and consumption of energy in Panama, based on UN’s 17 Sustainable Development Goals and defining six strategic lines of work in energy matters: Universal Access, Energy Efficiency, Electric Mobility, Distributed Energy, Innovation of the Electric Network, and Institutional Development. The National Secretariat of Energy started working collaboratively and developing trainings with other market agents since 2020. In this regard, the first strategic pillar to be reviewed was Electric Mobility, aiming to reduce reliance on fuels imports, better health conditions and contribute to the environment, through the Intersectoral Committee for Electric Mobility (In Spanish, CIME).

In recent workshops, Universal Access is being discussed as high importance matter to close the gap caused by electric poverty in rural communities of the country. On the other hand, the Energy Transition Agenda promotes Distributed Energy for the transformation of users to prosumers and energy self-sufficiency.

Most importantly, the Energy Transition Agenda highlights the significant role of the energy sector in the economic recovery post COVID-19. Panama enjoys a wide variety of natural resources, enhancing the development of green and diversified projects.

This said and considering the cross-sectorial impact of energy, a great opportunity for macro investments is presented in Panama, supported on solid regulations and encouragement of local authorities.

Source: Arias – Vivian Velarde

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