Pando-Monte hydro developers seek IDB financing

Sponsors of the 83.3MW Pando-Monte Lirio hydro project in Panama have requested IDB financing, according to a project abstract released by the regional lender.

Inveravante Inversiones Universales of Spain and Fundación Fernando Eleta Almaran of Panama are the sponsors of the project, which will be developed by Electron Investment.

Pando is due to be commissioned in July 2012 and Monte Lirio in December of the same year. The plants will be built on the Chiriquí Viejo river in Chiriquí province.

The project also includes an interconnection with the Siepac regional grid.

IDB will provide long-term financing, together with other multilateral lenders. The amount requested was not disclosed.

"The project fits IDB's strategy for Panama, which aims at supporting private investment in infrastructure as well as the development of renewable energy sources," the document said.

In its latest bulletin, the country's national dispatch center CND reported that generation last month totaled 565GWh, of which 58.7% came from hydro, 27% from thermo, 11.4% from the Panama Canal Authority and the remainder from Central America.

In July last year, output reached 515GWh, of which 56.9% came from thermo, 32% from hydro, 7.7% from the Panama Canal Authority and the remainder from Central America.

Publication: Business News Americas - English News
Provider: Business News Americas
August 28, 2009