Panama and Colombia to Build Electrical Interconnection

The construction design of the project, according to the National Secretariat of Energy, includes a marine section through the border areas adjacent to Colombia before reaching the final station; therefore, they have been in talks with the indigenous communities to learn about their requests in exchange for the permit that will facilitate the start of the bidding process. "The interconnection between Panama and Colombia has been one of the topics we have addressed, and what has been discussed is how we, from the European Investment Bank, could provide technical assistance," detailed the bank's president during her visit to the country. Although the president expressed respect for the autonomy, mechanism, and consultation process of the border areas, he clarified that the interconnection is a project of social interest that must be carried out for the consolidation of Panama as an energy hub; therefore, conversations and the development of this will continue. The Minister of Economy and Finance, Felipe Chapman, stated that this connection seeks to take advantage of Panama's electrical capacity through the sale of its surpluses at competitive prices. However, President José Raúl Mulino, in one of his weekly talks, made it clear that the project will not be stopped by the opposition of the residents. The President of the EIB, Nadia Calviño, highlighted the importance of the interconnection for the country, announcing that she has offered her support to the authorities in the initial planning phase, taking into account the bank's experience as developers of similar underwater constructions in Europe and other parts of the world. Calviño explained that before financing a project, the bank carries out an evaluation of economic and financial, technical, and environmental sustainability; however, in her conversations with President José Raúl Mulino and members of the Cabinet Council, she has presented her aspirations in this regard. The project, which aims to unite the electricity distribution networks of Panama and Colombia, continues to generate international interest; recently, the European Investment Bank (EIB) expressed its willingness to provide technical assistance for the design of the project. The head of the Ministry of Economy and Finance (MEF) highlighted that this project will also contribute to improving electricity prices for consumers. It will also facilitate the purchase of energy from a market 10 times larger than Panama's in special cases such as climate events or unpredictable blackouts. "These networks provide certainty against possible incidents, risks, or imbalances in the system," she reiterated.