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Panamá Population (millions) - July 1998 2.73 Overall Electrification (% of population) 67% GDP (billion US$) - 1997 est. $18.0 Real GDP Growth Rate - 1997 est. 3.6% Inflation Rate (CPI) - 1997 1.2% Total Installed Capacity (MWe) - 1995 985 Electricity Consumption per Capita (kWh) - 1997 1213 Energy Demand Growth Rate 6.0% country’s total installed capacity. Thermal makes up the remaining 39%. Investment in new electrical generation projects has been low over the last few years with IRHE devoting significant resources to the maintenance of existing plants which were not properly maintained during the final years of the Noriegaregime. Thispolicy,alongwiththeupgradingof the Fortuna hydroelectric plant, has enabled the country to meetitscurrentdemand. Newinvestmentisneeded, however, to meet future anticipated demand which is growing by approximately 45 MWe per year. Because the state power company. Instituto de Recursos Hidraulicos y Electrificación (IRHE) does not have the financial resources to undertake the investment required to meet future demand, the Government of Panamá (GOP) decidedonprivatization. IRHE’sgenerationcostsare among the highest in the region—10-12¢/kWh. IRHE is awaiting bids for the 130 MWe Esti hydroelectric project; another tender is open to purchase energy from a 100 MWe thermal plant to be installed and operated by the privatesector. Additionally,the120MWeGualaca hydroelectric project is scheduled for completion in 2005. The IDB approved a $79 million loan to further Panamá’s electricity reforms, help overcome bottlenecks in infrastructure, and advance SIEPAC. Prices (US¢/kWh) - June 1998 Residential Commercial Industrial 12.05 11.86 9.96 Estimated Geothermal Potential (MWe) 450 Power Summary Panamá has considerable potential for hydroelectric generation which currently accounts for 61% of the Geothermal Resources in Latin America & the Caribbean 88PDF Image | Geothermal Resources in the Caribbean and Latin America
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