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LatinNews Daily - 02 June 2021

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In brief: Panama announces new natural gas plant

* Panama’s President Laurentino Cortizo has announced a new US$1bn investment for the construction of a natural gas energy project, Generadora Gatún, to be located in Colón province which will have an installed capacity of 670MW. To be constructed by Consorcio Group Energy Gas Panamá, which comprises US-based InterEnergy Group and AES Panamá, a local subsidiary of US energy company AES, the project will generate over 3,000 direct jobs and “thousands of indirect jobs” in its construction phase according to Cortizo. InterEnergy Group will own a 51% stake, the Panamanian state, 25%, and AES Corporation, 24%. President Cortizo said the investment was in line with a newly unveiled plan for the comprehensive development of the electricity sector which seeks to make it more competitive in terms of price and quality and ability to generate cleaner energy.