The AES Corp. has acquired the remaining 49.9 percent stake in AES Colón, bringing its total ownership of the company to 100 percent. The seller was Inversiones Bahia.
AES Colón, the first LNG reception terminal in Panama and Central America, was constructed by AES Corp. and Inversiones Bahia and came online in 2018. Some $1.15 billion was invested in the project. The terminal includes a 381-megawatt LNG-fired power plant and a 180,000-cubic-meter LNG storage and regasification facility.
The natural gas-based power plant uses combined cycle technology for its efficiency and contribution to the environment. It reuses the heat of the exhaust gas from the gas turbines to obtain steam, which is then used by a steam turbine and to save fuel in the production of electricity. This power plant is 50 percent more efficient and requires one-third less water than conventional plants.
The companies said 100 percent of the output from the generation facility is contracted
