PRESS RELEASE

President Varela opens IKAKOS Solar Park, the largest in Panama

By
Friday, February 1, 2019

In order to strengthen the energy matrix through the IKAKOS project, the largest photovoltaic solar park in the country, the President of the Republic, Juan Carlos Varela Rodríguez, inaugurated this Friday in Chiriqui, David, this important investment in the company of the former president of the United States. United, Bill Clinton.

President Varela said that this consortium is leading the transformation of the energy sector in Panama with the Laudato Sí Wind Farm, the largest in Central America and the Caribbean, located in the city of Penonomé, province of Coclé; and now the IKAKOS Solar Park, using natural resources as a source of 100% renewable energy supply.

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"It is important to highlight that with this project we are expanding the energy matrix of Panama, which allows us to meet the electricity demand of approximately 30,000 families," Varela said.

The operation of photovoltaic solar energy consists of the transformation of photons of light coming from the sun into electrical energy in direct current through the photovoltaic modules, taking advantage of the photoelectric effect.

According to the estimates made by the consortium, this solar park represents, to date, a nominal capacity of 40 MWac and an annual generated energy of 84.58 GWh. IKAKOS has 4 plants of 10MWAC and 138,960 solar panels that together have a nominal power of 40 MWAC. Its construction required an investment of more than 48 million dollars, which included, in addition to the project, social works for the community and reforestation of the area.

IKAKOS is a project that goes hand in hand with the SER - Renewable Energy Supply initiative that allows offering large clients 100% renewable energy, through the combination of solar, wind and water.

The SER initiative seeks to avoid the emission of more than 160,000 tons of Carbon Dioxide (CO2) per year, making it a useful tool in the fight against global warming, which is part of the commitments made at the meeting of Clinton Global Initiative, held in Rio de Janeiro in December 2013.

"Undoubtedly, IKAKOS is important for the country's energy development and its positive impact on the environment, due to the non-emission of polluting gases, making it a model project within the energy industry," said the President.

The precedent set by IKAKOS is a great contribution to the economic growth of the country, which in turn is reflected in the logistics, industrial, commercial and technological sectors, which require the strengthening of the energy matrix, but at the same time allows development, respecting the environment and the quality of life of Panamanians.

Former President Clinton told the Panamanian Governor that he should be proud of what he achieved, but above all of his legacy to bring Panama to the clean energy revolution. "Now Panama and its neighbor Costa Rica have given themselves the opportunity to show the world that they can grow in a sustainable way, generating energy and, through this, create jobs that help people pay their bills.

These projects are part of the National Energy Plan (PEN 2015-2050), whose vision is to ensure the country's energy development.

The Interenergy Consortium focuses on the generation of renewable energies, through the combination of three technologies; wind, solar and hydraulic in passing, whose objective is to guarantee its customers that the supply of 100% renewable energy.

This Panama government release was published using an automatic translation system.