Recently approved long-term tender for energy and electricity exclusively for renewable energy sources implies the stabilization of the local market price of electricity, in addition creating new jobs, said the general director Electrical Transmission Company SA (Etesa), Carlos Mosquera Castillo.
By concluding a long-term contract, the manager of ETESA specified, there is a possibility of establishing production projects, mainly of renewable energy sources, in which both existing plants and new producers can compete.
“The entry of new production facilities into the market will enable an important economic shift, with the investment of new production facilities, which will also enable the creation of new jobs in the country’s electricity sector,” pointed out Mosquera Castillo.
ETESA’s executive board estimated that the entry of new energy production facilities into the national market will create more than 4,600 jobs in the sector, which will bring with it the training of specialists and a positive effect on the country’s economy.
Mosquera Castillo pointed out that the conclusion of a long-term energy and power contract “does not harm the periodic market”, as the price will be maintained during the duration of the contract, which will be 20 years. “That price will not change,” he assured.
The establishment of this contract will generate guaranteed competitive prices in addition to the development of new renewable energy facilities.
The State Secretariat for Energy recommended for Electrical Transmission Company, SA (Etesa) prepares tender documentation for long-term procurement of energy, power and supporting energy.
This is the first long-term tender exclusively for renewable energy sources conducted in Panama in the last 10 years and the first in the Central American region to include battery storage systems, to give greater flexibility to the national electricity system.
Resolution no. MIPRE-2024-0001384 of January 15, 2024 recommends adopting measures for contracting electricity and/or energy in order to guarantee the long-term supply of electricity to end customers of distribution companies. .
In the last 8 years, Panama has not conducted such a tender. It is also the first long-term tender held in the Central American region, which considers the use of energy storage systems for renewable energy sources.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
