The IIC loan to San Lorenzo Hydro, S.A. in Panama will help to promote renewable power generation.
Washington, D.C. - On September 13, 2011, Inter-American Investment Corporation (IIC) approved a loan to San Lorenzo Hydro, S.A. (HSL) for the amount of U.S. $10.5 million.
The funding will be used for the construction of a hydroelectric plant with an expected capacity of 8.6 MW and a generation of 40 GWh per year and involves the construction of a concrete dam with five gates along the river Fonseca , Chiriqui, a short diversion of the river Fonseca and the construction of a powerhouse which will house two Kaplan units.
"With this operation, the IIC is helping to develop a mini hydro power sector in Panama, which is an important part of the country's energy matrix. These plants will contribute to the growth of the country and the region generating renewable energy, reducing the cost of electricity and promoting an ongoing energy supply through clean and renewable source with minimal environmental impact. Moreover, these mini hydro stations will create opportunities for workforce development in areas of low employment activity", said Jorge Ciurlizza, the ICC Senior Investment Official in charge of the operation.
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March 2011
Enel Green Power announced the start of construction of a new hydroelectric power plant between Alajuela and San José.
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September 2009
The Inter-American Development Bank is financing infrastructure and electric power projects in the country.
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