High quality, diversified technologies
The Vista Hermosa Solar Park is located in the village of Vista Hermosa, Corregimiento de Pueblos Unidos, Aguadulce district, Coclé Province, approximately three and a half hours by car from Panama City. Construction activities of the 10 MW began in the second quarter of 2022 and were completed in March 2023. Formal connection approval was received from local Government authorities and the plant was connected to the electrical grid on April 22, 2023. Upon completing construction, the plants were connected to the national transmission network (National Interconnected System) at the ETESA Substation (Electric Transmission Company) of Llano Sánchez through an air-underground electric sub-transmission line of about 3 Km in length.
The solar projects do not have contracts but have the ability to sell into the spot market. The Company is assessing the benefits of securing long-term contracts versus selling into the spot market. The Company currently believes that a combination of both is a likely outcome, however it will commence operations purely selling on a spot basis, given the current strength in the spot market. The effective spot price obtained for the period April to June 2023 was $144.50 per MWh.