Panama announces large investment in solar-energy technology

Juan Carlos Varela, president of Panama, recently announced that the country will make a $1 billion (USD) investment on a 500 MW of utility-scale solar-energy and a $50 million world-class solar and environmental research center, which will be designed to focus on various research studies regarding photovoltaic (PV) innovation and environmental sciences.

The announcement was made during the 70th United Nations General Assembly in New York, SkyPower. The constructions will be done in association with universities and research institutions.

During the event, Skypower also announced that, during ten years, 25 students from Panama will be granted with scholarships on the fields of solar energy and environmental sustainability.

"SkyPower invests in countries that uphold environmental sustainability and preservation while advancing their economies and industries,” SkyPower President and CEO Kerry Adler said. “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.”