Ecoener Expands into Panama with 50 MW Solar Project

Jun 24, 2024 06:29 PM ET
  • Ecoener SA expands into Panama with 50 MW solar project, solidifying its presence in Latin America and aiming for 1,000 MW by 2025.
Ecoener Expands into Panama with 50 MW Solar Project

Spanish renewable power producer Ecoener SA will begin construction of 50 MW of solar photovoltaic capacity in Panama in September, marking its entry into the country and expanding its presence in Latin America. The company already operates in the Dominican Republic, Honduras, Guatemala, and Colombia, with 40% of its revenues coming from the Americas.

Last year, Ecoener commissioned two solar farms in the Dominican Republic and one in Colombia, totaling around 96 MW and 41 MWp respectively. The company ended the year with 740 MW of renewables in operation and under construction, with plans to reach 1,000 MW by 2025, with 80% of them under power purchase agreements. In Europe, Ecoener also has projects in Greece and offices in Italy, Romania, and Poland.

What is Ecoener SA's expansion strategy in Latin America and Europe?

  • Ecoener SA's expansion strategy in Latin America includes entering new markets such as Panama and expanding its presence in countries where it already operates, such as the Dominican Republic, Honduras, Guatemala, and Colombia.
  • The company aims to reach 1,000 MW of renewables by 2025, with 80% of them under power purchase agreements, indicating a focus on securing long-term contracts for its projects.
  • In Europe, Ecoener has projects in Greece and offices in Italy, Romania, and Poland, showing a commitment to expanding its presence in the European market as well.
  • Ecoener's strategy involves a combination of entering new markets, expanding in existing markets, and securing long-term contracts for its renewable energy projects to ensure sustainable growth and profitability.

SOLAR DIRECTORY
Solar Installers, Manufacturers