Enel breaks ground on 26-MW solar plant in Panama

Italy's Enel SpA (BIT:ENEL) has commenced construction of a 26.24-MW solar park in Panama's province of Chiriqui.

The company, through Enel Green Power Panama (EGPP), said today that the Esperanza photovoltaic (PV) solar plant is expected to be up and running in the first half of 2021.

Esperanza is part of EGPP's USD-50-million (EUR 42.5m) PV investment plan for 2020-2021. With 64,440 monocrystalline PV modules, the solar park will be able to generate 41.85 GWh of electricity per year, enough to offset over 23,600 tonnes of carbon dioxide (CO2) emissions annually. The output will go to clients in the commercial and industrial sector.

On September 14, EGPP also started building the 13.12-MW Jaguito solar park, located in Cocle province. Earlier that month, the firm secured a power purchase agreement (PPA) with state lender National Bank of Panama (Banconal) to supply 31 GWh of clean energy over five years.

Overall, EGPP has a combined capacity of 62 MW of solar and expects to exceed the 100-MW mark by the end of 2021, the company noted.

(USD 1 = EUR 0.850)

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