Panama solar retrofit system

What is Panama's power system like in 2017?

In 2017, Panama’s power system had very large installed hydropower capacity (54% of total capacity) and substantial VRE capacity (45.3%). The generation breakdown was 64% renewable energy (36% run-of-river hydro, 18% reservoir hydro, 8% wind, 2% solar photovoltaics (PV)) and 36% thermal generation (29% oil and 7% coal).

What is the flextool engagement process for Panama?

The FlexTool engagement process for Panama started in October 2017, with a set of discussions during training on power grid studies with large shares of solar and wind.

Does Panama have a flextool?

Panama has taken part in power sector activities under the Clean Energy Corridor Central America (CECCA), for which it is a pilot country. Country experts expect to use the FlexTool in scenarios and studies by ETESA, CND and SNE.

How much energy does Panama need?

Panama expects total energy demand to more than double between 2017 and 2030 (+113%), with peak demand growing from 1.6 GW to 3.5 GW. Panama is currently connected to Costa Rica via a 300 MW transmission line. A 400 MW high-voltage direct current (HVDC) interconnector with Colombia is expected to be commissioned by 2022.

Why is Panama so attractive to investors?

Image: Avanzalia Among the Central American states, Panama has become very attractive to investors, not only because it boasts a stable government and uses the US dollar as its currency, but also due to the government now deploying a range of fiscal incentives to support PV, including an exemption on import taxes.