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Panama gets wind power bids from four companies, including Spanish FRS and German InnoVent. Alternative to hydro

Wednesday, November 9, 2011

Panama received eight bids to build wind farms as the Central American nation seeks to reduce its dependence on hydroelectric dams.

The eight bids came from four companies, including Spain’s Fersa Energias Renovables (FRS) and Germany’s InnoVent, which offered to sell electricity from the farms at rates of $90 a megawatt-hour to $120, according the national power distributor, Etesa.

Panama gets 62 percent of its power and heat from hydroelectric dams and the rest from coal and biomass-fired plants. It’s seeking to reduce its reliance on hydropower.

Original source: Bloomberg