Group Energy Gas Panama celebrates groundbreaking ceremony of the Generadora Gatún Natural Gas project

• Group Energy Gas Panama invests one billion dollars in a natural gas plant with 670 MW of installed capacity.

• The project will generate 3,000 direct and indirect jobs in its peak construction phase.

• The project traces the roadmap that will transform Panama into an energy hub that will facilitate the development of new businesses and industries.

Colón, March 22, 2022 – The Group Energy Gas Panama company, owned by the InterEnergy Group (51%) and AES Panama (49%), celebrated the groundbreaking ceremony of Generadora Gatún. This electricity-generation project, situated in Telfers Island, in the province of Colón, will use natural gas as its fuel source and have installed capacity of 670 MW.

“We have decided to invest in Generadora Gatún because we are certain that through strategic investments in the energy sector, we can contribute to the economic reactivation and growth of Panama. This country offers us, the investors, fundamental conditions, such as legal security, and it also is and will continue to be a nation of opportunities, which to date maintains its standing as the leader in the region,” said Rolando González Bunster, President and CEO of InterEnergy Group.

The leader of the project´s majority investment company also stated: “The situation that currently exists worldwide has, without a doubt, had an impact on the economy due to the rise in the price of oil, and this situation proves the importance of access to energy that today´s world demands. All this leads us to consider that our countries must have stable, safe and reliable energy matrixes.”

The realization of this project represents a direct investment of one billion dollars, which will promote the economic and social reactivation of Panama. In its construction phase, this project will generate more than 3,000 direct and indirect jobs, promoting recovery and inclusive development.

“Generadora Gatún will allow us to have a reliable and stable electrical system, which will guarantee the firm power capacity that the country requires in this key stage of recovery. It will also allow the addition of more renewable energy in the future. This will allow us to work with the carbon neutral goals set for 2050, and the promotion of a low-carbon economy,” said Mónica Lupiáñez, Panama´s Country Manager and Director of Renewable Energies of the InterEnergy Group.

The project will replace the thermal plants that have already been removed from the Panamanian electrical system. This will give the country the opportunity to move towards a much cleaner and more efficient energy matrix, providing it with more competitive, reliable and environmentally-friendly energy.

“For Generadora Gatún, safety and quality are fundamental pillars of the project, thus complying with the environmental protection standards of the IFC, the World Bank, as well as with the highest national and international safety standards,” explained Jorge Perea, CEO of Generadora Gatún.

This combined cycle plant will have two gas and one steam turbine, and will be connected to the transmission grid through a new line, located between the Sabanitas and Panama III substations, Perea also explained. He further stated that the gas supply will be carried out through a gas pipeline that will be connected to the terminal that currently operates in Colón.

The employment opportunities that Generadora Gatún will offer are directly related to such areas as basic mechanics, electricity, industrial assembly, plumbing, construction, transportation, messaging, environmental awareness, and occupational health and safety. Group Energy Gas Panama will invest in training so that the local talent may strengthen its skills in order to provide world-class service.

The project´s groundbreaking ceremony symbolizes the launching of the plant´s construction phase. It is estimated that the project will be completed during the first semester of 2024.