Panama to hold October renewables public auction

• Picked projects will certainly safeguard five-year power acquisition contracts as well as will need to begin business procedure on January 1.

The government of Panama has actually described the policies for a renewable energy auction to be held following month. Resolution MIPRE-2020-0015448 was released in the nation's main journal.

Under the regards to the procurement round, picked projects will have to begin commercial operation on January 1 as well as will be awarded five-year power acquisition contracts by state-owned energy Empresa de Transmision Electrica S.A. (ETESA).

The National Secretariat of Energy said the auction was required as Covid-19 had impacted the development of generation projects as well as the national electrical energy market in a manner that "can compromise the firm ability of our generation matrix to ensure the protection of temporary supply, especially in certain scenarios of low hydrology."

ETESA is anticipated to specify the last bidding process guidelines for the procurement exercise over the coming weeks.

Panama had 242 MW of solar generation capability at the end of 2019, according to the International Renewable Energy Agency, with 87 MW having been added last year. The National Authority of Public Services claimed the country had around 500 MW of solar projects under development at the end of July last year.

Some 1.8 GW of hydropower projects and also 1.2 GW of thermal power plants provide a lot of the country's 3.5 GW of generation capability.