AES Changuinola

In late 2005, AES began developing the Changuinola hydro power project and currently the project is in the phase of building the roadways to access that facility.  The formal cornerstone laying ceremony took place on October 25, 2007.

The project's total completion represents an investment of approximately $563 million and the estimated date for the Changuinola hydro power plant to go into commercial operation is the first quarter of 2011.  Through this new facility, AES contributes to the country's development and helps face the growing demand of energy in Panama, which requires an additional 50 MW each year.

The construction of the new Changuinola I Hydro Power Plant:

• is an asset to Panama
• will generate clean and 100% Panamanian energy
• will create opportunities for previously excluded populations
• will contribute to solve the country's energy situation
• will help Panama to continue growing

The construction and operation of the hydro power plant will be under the responsibility of AES, a multinational energy corporation with world-class standards and an active presence in Panama.

AES plays an important role in Panama's energy market.  It has been recognized for its contributions to the system, doubling its capacity to generate clean, cheap, and reliable energy for 10 years.  AES has contributed to the preservation of the environment and has improved the standards of living of indigenous communities by helping them build on their capacities.

AES has a great deal of professional and technical experience in the building of hydro power projects, as was demonstrated by the construction of the Esti Hydro Power Plant.  This facility -- which was built in record time and with zero fatalities -- added 120 MW to the system in November of 2003.