InterEnergy Announces the Launching of Operations of the Largest Natural Gas Plant in Central America and the Caribbean

• With an investment of US$1.2 billion, and a 34-month construction schedule, the InterEnergy Group – jointly with its partner AES Panama – has launched Generadora Gatún, the largest natural gas plant in Central America and the Caribbean. The plant will have an installed capacity of 670 MW.

Panama, October 30, 2024 — InterEnergy Group, a leading energy company in Latin America and the Caribbean, announces the commercial operation launch of Generadora Gatún, located in the province of Colón, Panama. To date, it is currently the largest natural gas generation plant in Central America and the Caribbean.

The combined cycle plant, with an installed capacity of 670 MW, is a key asset for the group and a central piece in the strengthening of Panama’s energy system, reducing volatility in electricity rates and guaranteeing greater reliability to the overall system by adding a firm capacity and efficiency in operating costs. This asset will allow Panama to consider greater integration of renewable generation, mitigating the effects of the intermittency of water, wind, and solar resources, thus accelerating its energy transition process.

The use of natural gas, a less polluting fuel, will annually reduce greenhouse gas (GHG) emissions by more than 1.9 billion tons. In addition, a 20-year fuel supply contract at a stable and competitive market price will represent an approximate saving of 20%, compared to current gas market prices. Additionally, it reduces exposure to the risk of electricity outages due to the effects of climate change and to the volatility of fuel prices, due to geopolitical conflicts.

Rolando González-Bunster, Chairman and CEO of InterEnergy Group, stated: “As part of our commitment to decarbonize our generation matrix and that of the countries where we operate, we announce the launching of operations of the largest natural gas plant in Central America and the Caribbean, which will strengthen the reliability of supply to the Panamanian energy system and the regional market. These kinds of long-term contracts have proven to be the most efficient tool to combat rising energy prices and create favorable conditions for rate reductions, setting a benchmark model throughout the region.”

Generadora Gatún, 51% owned by InterEnergy Group and 49% by AES Panama – with an overall investment of US$1.2 billion – will generate more than 3,000 jobs in the peak construction phase. Both companies joined forces in this project to add value to Panama, and to strengthen the energy matrix of this country.

Leaders in Innovation

The InterEnergy Group has developed widely in the region, with clean generation assets. During this year, the Dominican Republic, and as part of the CEPM Zero Initiative, this energy group is moving forward with the development and construction of more than 200 MW of solar projects in the country’s eastern region during this year. In addition, it forecasts the addition of 300 MW more in wind generation, starting in 2025.

The goal for 2030 is to transform CEPM into a zero-emissions energy company, with an estimated investment of more than one billion dollars and through the integration of wind, solar and storage batteries into its matrix, which are added to the existing generation of this company. In addition, in a future phase, other technologies will be integrated such as hydraulic pumping, and other sustainable fuels, such as green hydrogen.

Through the Evergo company, this energy group leads the region in electric mobility, with the largest and most sophisticated network of charging stations for electric vehicles. To date, there are currently more than 15,000 charging points in the ten countries where the company operates.

Most recently, through its company GEDOM, it announced the expansion of the Matafongo Wind Farm, located in Sabana Buey. Also, the construction of the Granadillos Wind Farm, generating 50 MW, in the country’s northern region. Also, the Cacaos Park, in the north coast city of Cabrera, with an additional 50 MW. This year as well, the company will open a fourth natural gas unit of the company Energas, located in the eastern province of San Pedro de Macorís. This unit is a boost to cleaner transition fuel.

About InterEnergy Group

For more than 30 years, InterEnergy Group has provided energy to citizens and cities throughout the Caribbean and Latin America. This energy group has 2.4 GW of installed capacity providing reliable, cost-effective, and clean energy to the Dominican Republic, Panama, Jamaica, Chile and Uruguay. This energy group leads the transformation of Panama’s energy sector with the Laudato Si´ Wind Farm – with 215 MW of installed capacity – the largest in Central America and the Caribbean, as well as the Ikakos Solar Park with 40 MWac of nominal capacity, using natural resources as a source to supply 100% renewable energy. In addition to its core business of power generation, InterEnergy Group has made significant investments in electric mobility and natural gas infrastructure, further consolidating its role in the economic and social development of countries, markets, and communities.