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SkyPower plans to build 500MW solar projects in Panama

EBR Staff Writer Published 07 October 2015

Canada-based solar photovoltaic (PV) energy projects developer, SkyPower is planning to invest $1bn to construct 500MW of utility-scale solar power plants in Panama over the next five years.

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The company is also planning to build a solar and environmental research centre in Panama with a potential investment of $50m.

The new research facility, which is planned to be developed in collaboration with several leading universities and research institutions, is designed to advance solar photovoltaic (PV) innovation as well as to support advanced research and innovation in environmental sciences.

The new research center is also expected to generate significant licensing revenues for the country.

Panama ambassador to the US Emanuel Gonzalez-Revilla said: "We welcome the announcement from SkyPower and look forward to working together to bring US investment dollars for clean energy and green jobs to Panama."

SkyPower expects that the proposed investment will create more than 10,000 total jobs as well as create opportunity of export of solar panels manufactured from the country.

SkyPower president and CEO Kerry Adler said: "SkyPower invests in countries that uphold environmental sustainability and preservation while advancing their economies and industries.

"The future of Panama looks bright, as the leadership of Panama is clearly focused on the need for clean renewable energy and has embraced solar as a cost-effective means of addressing Panama's energy needs today, and as a critical part of its generation mix for its bright future."

In August, SkyPower has agreed to form a joint venture (JV) with Mexican energy company Grupo Uribe for the strategic development of integrated pipeline of utility-scale solar PV projects in Mexico.


Image: SkyPower president and CEO Kerry Adler and Panama President Juan Carlos Varela. Photo: courtesy of SkyPower.