Panama awards concessions to build 83.5-MW Lalin 1, 2, 3

PANAMA CITY, Panama 9/12/11 (PennWell) -- Panama's public service regulator has awarded concessions to build and operate three hydroelectric projects on the Gatu River system totaling 83.5 MW.

Autoridad Nacional de los Servicios Publicos (Asep) awarded development concessions for the following developers and projects:
o Panama Power Energy Inc., 19.5-MW Lalin 1, Gatu River at El Penon, Los Hatillos, and San Francisco in Veraguas Province;
o Panama Energy Finance Inc., 38.6-MW Lalin 2, Gatu River at La Yeguada and Calobre in Veraguas; and
o Panama Energy Business Inc., 25.4-MW Lalin 3, Gatu River at Chitra y Gatuncillo, Calobre, and Santa Fe in Veraguas.

After final approval and signing of the 50-year concession agreements, the developers have 24 months to begin construction and another 48 months to complete the projects.

In 2007, Asep awarded the three developers contracts for environmental impact studies of the three hydroelectric projects.



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