President announces the launch of the Plan for the Comprehensive Development of the Electricity Sector.

The President of the Republic, Laurentino Cortizo Cohen, announced a new plan for the Comprehensive Development of the Electricity Sector that aims to transform a more competitive energy sector in price and quality; cheaper clean energy generation; million-dollar investments to strengthen the transmission system; job creation, and massive electrification in rural areas of the country.

 

In the presence of the Vice President and Minister of the Presidency, José Gabriel Carrizo Jaén, Ministers of State, former Presidents of the Republic, businessmen from the energy sector and local government authorities, President Cortizo Cohen said that one of the strategic objectives of his Government is to promote a transformation of the electric power generation, transmission and distribution system for the benefit of all Panamanians.

 

"This strategy aims at developing a competitive electricity sector in price and quality that allows us to attract new investments and which, in turn, will generate thousands of jobs," he explained.

 

He explained that the concept of the strategy is to create the new generation matrix composed of renewable energy, hydroelectric, wind, solar and also natural gas, which is the cheapest and cleanest of thermal energies. With this policy, the president indicated, the old thermal plants with low efficiency, high costs and pollutants will leave the market at the end of 2023.

 

The Comprehensive Energy Plan contemplates important investments for electrification in rural areas, including 76 projects that will achieve the interconnection of 3,500 homes to improve the quality of life of more than 18,000 Panamanians, stressed Cortizo Cohen.

 

Also, the plan includes an investment of 90 million dollars to strengthen the electric transmission line, which will generate hundreds of jobs, diversifying our options and opening another pole of energy development in the north of the country.

 

The governor explained that for the rest of the sector, the plan contemplates that within the short term the supply of power and energy will be tendered from November 2021 to December 2023. "This will guarantee the supply for economic recovery without increasing the cost of energy, "he added.