Panama's state transmission company ETESA has received 31 proposals from local and international developers in a tender process to award its first tender for solar photovoltaic (PV) power purchase agreements.
ETESA held the solar energy auction on November 25, 2014, a month later than originally scheduled.
Overall, 31 project proposals were submitted to ETESA for the auction. Around 100 companies had bought tender documents.
The estimated investment will range between $100 and $120 million.
According to local publisher La Estrella, the lowest bid was submitted by FRV Solar Panamá S. de RL, offering a price of $0.09 per kWh, while the most expensive project was submitted by Panama Solar Energy Providers Inc., offering $0.14 per kWh. $0.14 was the ceiling price to participate in the tender process.
According to the same sources, ETESA will announce the bid winners within 2 to 3 weeks. PV projects selected through the auction will have to deliver electricity to the grid by Jan. 1, 2017.
Local energy providers Gas Natural Fenosa and ENSA (Elektra Noreste) will buy the output from the PV plants under 20-year PPAs.