Panama gets $1 billion solar investment from Canada

CANADIAN COMPANY SkyPower, the world’s largest developer and owner of utility-scale solar projects, is to make a major investment in Panama that will create ,jobs, scholarships and exports  in the next five years

The announcement was made with President Juan Carlos Varela, during the 70th United Nations General Assembly in New York.

The company ,unveiled its plans to build 500 MW of utility-scale solar energy representing an investment of $1 billion.

SkyPower will also construct a US $50 million world-class solar and environmental research center in Panama dedicated to the advancement of solar photovoltaic (PV) innovation as well as advanced research and innovation in environmental sciences.

To be built in affiliation with several leading universities and research institutions, this research facility will distinguish Panama as the definitive hub for new solar technologies and innovation in Central America, and is expected to generate significant licensing revenues for the country

SkyPower has also announced it will fund 250 scholarships for Panamanian students who are studying in the fields of solar technology and environmental sustainability, through an annual grant of 10 scholarships per year for each of the 25 years its solar projects are generating clean energy. This investment in the future of Panamanian students will begin with the first kWh of energy that SkyPower’s solar-energy projects will generate in Panama.

SkyPower also  promises  to sponsor a school for each megawatt it installs on Panamanian soil.

“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,” said Kerry Adler, SkyPower President and Chief Executive Officer.

“SkyPower’s estimated $1 billion investment is expected to create more than 10,000 total job years in Panama, and create opportunity to export solar panels said  SkyPower Chief Commercial Officer Charles Cohen.

SkyPower is the largest and one of the most successful developers and owners of utility-scale solar photovoltaic (PV) energy projects in the world. With roots dating back to over a decade