More than 114,000 Panamanians benefit from CABEI-financed natural gas energy project

Panama City, July 20th, 2021.- A total of 114,130 Panamanian electricity system users are the direct beneficiaries of the construction of the Gas Natural Atlántico (GANA) Power Generation Plant and the North Coast Regasification Terminal (CONO), financed by the Central American Bank for Economic Integration (CABEI) for US$140 million.

The execution of the works was completed in 2019 and, according to the CABEI impact assessment process, the gross generation of clean energy with this project's entry into operation was 10,807.36 Gigawatt hours (GWh) for that year, and 404 temporary and 26 direct jobs were generated, 45% of which are women.

"At CABEI, we are committed to supporting as many operations as possible to reduce climate change effects. This is a flagship project since it is the first of its kind to generate energy fueled by natural gas in the region, and it has improved the quality, reliability and safety of Panama's electricity generation system," said CABEI Executive President Dr. Dante Mossi.

The power generation plant has a storage system consisting of a 180,000 m³ tank and a regasification terminal. The project also included the construction of a 1,000 m2 dock, 2,000 m2 administrative area and 1 kilometer of taxiway for internal service.

This project is in line with CABEI's environmental and social sustainability axis, which seeks to promote programs and projects that favor social ownership and address the need to preserve the environment.