USD 100 million for ETESA to partially finance the Expansion Plan of the Panamanian Electricity Transmission System
Financing will enable the system's modernization, as well as the expansion of coverage and improving service quality
CAF, Development Bank of Latin America, and Empresa de Transmision Electrica S.A (ETESA) signed a financial agreement for USD 100 million for the execution of Panama's Expansion Plan of the Main Electricy Transmission System during the 2014-2017 period.
Financing will enable the modernization of the electricity transmission system by increasing the energy transmission capacity of Panama's National Interconnected System (SIN, for its acronym in Spanish), and will expand the coverage and improve the quality of the service.
Susana Pinilla, CAF's Director Representative in Panama, stated, "with this financing to ETESA we are sure that the national electricity system will get stronger as a result of increasing the capacity of the transmission lines to supply the increasing energy demand".
Engineer Ivan Barria, ETESA's General Manager, highlighted that this financing will strengthen the operations of the transmission network, optimizing the quality and continuity of the service.
ETESA is a Panamanian state-owned company in charge of high voltage electricty transmission, addressing the demand of the National Interconnected System (SIN) through the operation of the National Dispatch Center (CND, for its acronym in Spanish), as well as being responsible for developing the Transmission System's Expansion Plan, which gathers the necessary investments for the national transmission network with the objective of addressing the growth of demand for energy and the criteria of reliability and current service quality.
One of CAF's objectives is to promote the development of sustainable energy systems in the countries of the region through project financing and specialized technical assistance.
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