CAF partially finances the Expansion Plan of Panama´s Electric Transmission System
The USD 100 million financing will contribute to the development of ETESA´s Investment Plan during the 2014-2017 period
CAF, Development Bank of Latin America, granted financing for USD 100 million to Empresa de Transmisión Eléctrica, S.A (ETESA) (Electric Transmission Company) to contribute with the efforts aimed at increasing the electric transmission capacity of Panama´s National Interconnected System (SIN, for its acronym in Spanish).
The project will help strengthen and increase the country's electric transmission capacity, as well as expand coverage and quality of service.
Enrique Garcia, CAF's Executive President, highlighted, "CAF's support is aimed at promoting technological innovation to improve energy efficiency and to diversify its generation matrix by means of developing renewable energies in the country".
With this operation, CAF support ETESA for the execution of the Expansion Plan for Panama´s Main Electric Transmission System during the 2014-2017 period.
ETESA is a Panamanian state company in charge of high voltage electric transmission, addressing the demand of the National Interconnected System (SIN, for its acronym in Spanish) through the operation of the National Dispatch Center (CND, for its acronym in Spanish), as well as having the responsibility to develop the Expansion Plan of the Transmission System, which gathers the necessary investments for the the national transmission network, in order to address the growth of demand for energy and the current reliability criteria and quality of services.
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