POSCO E&C completed the largest complex thermal power plant in Panama. It is the largest 381 MW power plant in the Colon region, 60km north of Panama City, and it is worth 671.2 million dollars.
The Colon combined thermal power plant will produce about 23% of the total power generation in Panama and is expected to be able to supply power to industrial complexes near the Panama Canal and about 150,000 households.
The opening ceremony was held on August 17th and was attended by Panama’s President Juan Carlos Varela Rodriguez, Vice-president of the U.S. Department of Energy Steven Weinberg, Deputy Treasury Secretary David Malpass, Korean Ambassador to Panama Park Sang-hoon, POSCO E&C’s Headquarters director Park Young-ho, CEO of AES Andres Gluski, and other 300 company officials.
“POSCO E&C’s high technology and friendly cooperation enabled the construction of the plant to be completed. The Colon combined thermal power plant is one of the things that has solidified energy security in Panama with the goal of reducing greenhouse gas emissions,” said Panama’s President Varela in the opening ceremony.
“We are delighted to be able to contribute to Panama’s power industry by successfully completing the project even in difficult circumstances such as the local militant union and the constant rainy season, which lasted eight months a year. We will further strengthen our competitive advantage in the Latin American market based on this achievement and construction experience,” said POSCO E&C’s headquarters director Park Young-ho.
The construction of the Colon combined thermal power plant started in May 2016 and completed 27 months later, breaking the record for the shortest construction in Latin America in the field of gas-combined power generation plant.