Martinelli linked contract under review
THE CONCESSIONS granted by state owned Etesa for the construction of hydroelectric projects connected to a company owned by Ricardo Martinelli, his family and close friends are under scrutiny.
Corporación de Energía del Etesa is being investigated for its decision to build a substation in San Bartolo, Veraguas that benefitted 10 hydroelectric projects, eight of which are linked to former President Ricardo Martinelli.
The project cost $13.7 million and was not part of any strategic plan developed by Etesa prior to it being announced.
Accounts Prosecutor Guido Rodríguez has asked the Panama’s Comptroller to audit Corpor de Energía del Istmo Istmo, which is owned by Martinelli, his family and close friends.
Rodríguez also said that the decision to build the substation needs to be scrutinized to determine if the state was injured economically for the benefit of third parties.
The Cabinet Council approved the construction of the substation at a meeting in February 2013, while Martinelli was still in office. The proposal was presented by officials from Etesa and the Ministry of Economy and Finance. The project was described as being “strategically important” to the energy sector, a designation that has been questioned.
It is clear, however, that it benefitted the hydro projects connected to Martinelli, as it saved the developers millions of dollars in expenses to connect the plants to the national grid reports La Prensa whose exposure of the maneuvers led to the official investigation.
