To be in full operation in 2013, the project will generate approximately 7 percent of Panama’s requirements and cost $445 million to develop.
Although tens of millions of tons of oil products pass through the Panama Canal, Panama itself has very few energy resources. Due to this Panama is working towards alternative energy solutions. Currently Panama has a heavy reliance on hydroelectric and geo-thermal generation.
Currently there are approximately 90 hydroelectric under planning and/or development in Panama in response to future requirements. The Panamanian National Secretariat of Energy recently stated that electricity rate increases are expected to increase between 25% and 30% in the next several years.
This Wind farm solution will cut oil need by 145,000 tons per year to start, and reduce carbon dioxide pollutants by 450,000 tons, according to officials.
The Costa Rica News (TCRN)
San Jose Costa Rica
Category: Latin America News