Image: Luis González, Unsplash
Panama’s National Energy Secretariat has launched an energy auction aimed at contracting energy for the period 2025-2030.
Panamanian authorities will hold the tender before December 10, which will allow power producers to compete in two categories: contracting power and supplying capacity, with contracts lasting up to 60 months.
Energy supply will begin on March 1, 2025, with a specific implementation deadline. The auction is open to sustainable producers, including hydropower, wind, solar and biomass projects.
The secretariat said that “the measure aims to prevent increases in electricity costs that have so far been postponed over several semesters to mitigate their impact on consumers.”
National Energy Minister Juan Urriola stated that adjusting contracted amounts to actual demand ensures that only the necessary energy is purchased, which helps protect consumers from possible price increases due to over-purchases.
In February 2024, Panama launched its first long-term renewable energy tender in ten years. However, in July, the National Energy Secretariat suspended the tender, saying it did not meet transparency standards for investors or deliver better prices for Panamanians. This tender was initially introduced by the previous government for the purchase of capacity and power.
The International Renewable Energy Agency (IRENA) has said that Panama had installed approximately 570 MW of cumulative PV capacity by the end of 2023. The country deployed approximately 70 MW of new PV capacity last year.
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