Fortuna submits 32.5MW hydro concession request

Panamanian generator Fortuna has submitted a request to the country's public services regulator Asep for a 32.5MW hydro concession, Asep said in a statement.
The project - dubbed La Soledad - would use water from the Santa María river in Veraguas province.

Asep will now publish the request in local papers and open a 10-day period during which other developers can submit requests for the project. If more than one vies for a project, there will be a procedure to see which the best offer is.

Fortuna already operates a 300MW plant on the Chiriquí river in the province of the same name, making the company the largest power generator in the country.

Italian power company Enel controls 49% of Fortuna through Americas Generation. Panama's government and employees own 49.9% and 1.1% respectively.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: January 11, 2008

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