Gas Natural Atlantico S. de R., a subsidiary of the AES Corporation (AES), has won a competitive bid process conducted by the Electric Transmission Company, SA (ETESA), to supply 350 MW of new capacity. The project includes the construction of a 350 MW combined cycle natural gas-fired plant with a 10-year Power Purchase Agreement (PPA), and a 170 000 m3 LNG storage tank and regasification facility. This facility will supply gas to the plant, and potentially will serve growing demand for natural gas in Central America. AES expects to sign the 10-year PPA by the end of 2015.
“Together with our local partner, Inversiones Bahia, we are very happy to announce that we were the lowest bidder for ETESA’s 10-year PPA for 350 MW. We will construct a low emission combined cycle power plant, which will be fuelled by LNG via the new regasification terminal on Panama’s Atlantic coast,” said Andrés Gluski, AES President and Chief Executive Officer. “Building a state of the art LNG regasification terminal near the entrance of the enlarged Panama Canal will enable Panama to become an energy hub for Central America and the Caribbean, by supplying lower cost, reliable and sustainable fuel, which will benefit many sectors, including electricity generation, transportation and ship bunkering.”
Construction of the project is expected to begin in early 2016, with commercial operations anticipated in 2018.
Edited from press release by Angharad Lock
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/14092015/aes-awarded-panamas-first-natural-gas-fired-generation-plant-1285/