Access to water and energy services is crucial to end the cycle of poverty and it is medullar to every nation’s economic progress.
Being hydroelectricity the largest renewable source for energy generation –one largely accessible for Panama – AES has invested more than $1,000 million to improve hydroelectric production capacity in the country. This represents one third of total investments in Panama’s electric industry since 1999.
For 15 years, AES has consistently offered the most competitive prices in Panama’s electric industry, resulting in stable, affordable prices for the end consumer.
Beyond energy supply, AES Panama has fostered a responsible competitiveness model in its direct impact communities, generally rural areas with limited access to basic public services, where the generation of economic, social and environmental wellness converges.
AES Panama offers the most competitive prices in the national electricity market, which translates in lower costs for the end consumer and provides the country with clean, affordable and renewable energy for the upcoming years. With the repowering of its existing facilities and the construction of two hydroelectric plants, AES Panama contributes with the Panamanian state through dividends and taxes –$429 million since 1999– and provides annual savings of more than $400 million in fossil fuel purchases.
Since electricity is generated with water, instead of fossil fuels, it offsets the emission of 1.7 tons of CO2 each year, and water returns to its course without chemical alterations, thus continuing its natural cycle. The use of water sources to generate electricity guarantees the protection of the country’s watersheds and forests.
Neighboring populations benefit from employment opportunities and the construction of community infrastructure, including three resettlement communities, 67 rural aqueducts and more than 20 kilometers of paved roads.