Spain's Ecoener to build 50 MW of solar in Panama market entry

Spanish independent renewable power producer Ecoener SA (BME:ENER) will start construction of 50 MW of solar photovoltaic capacity in Panama in September, chairman Luis de Valdivia announced on Thursday at the company's general shareholders’ meeting.

The project will mark Ecoener’s entry into Panama and further expansion in Latin America, adding to its existing operations in the Dominican Republic, Honduras, Guatemala, and Colombia.

According to De Valdivia, 40% of Ecoener’s revenues come from the Americas. The region last year enabled the company to grow its international profile thanks to the commissioning of two solar farms totalling around 96 MW in the Dominican Republic and another 41-MWp solar farm in Colombia.

The investment and installation effort in 2023 resulted in Ecoener reaching the end of the year with 740 MW of renewables in operation (341 MW) and under construction (399 MW).

De Valdivia reiterated Ecoener’s goal to have 1,000 MW of plants in operation and under construction by 2025, with 80% of them generating revenues under power purchase agreements (PPAs).

In Europe, besides Spain, Ecoener has projects in Greece and offices in Italy, Romania and Poland.

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