AES Panama, S.A.
AES Panama, S.A. (AES) owned by AES Corp and the government of Panama, is the largest power generator in Panama. The company is principally engaged in generation and sale of electricity through it four hydroelectric power plants namely Bayano power plant with a gross capacity of 260MW, Esti with a capacity of 120 MW, La Estrella with a capacity of 48 MW and Los Valles with a capacity of 54 MW. Its power plants constitute 36% of the total installed generation capacity of the country. AES is also in the process of constructing a 233 MW new hydroelectric facility called Changuinola, which is expected to reach its commercial operation in 2011. The company generates and sells electricity in the Panamanian electric system, which is regulated by the Authority of Public Services. Approximately 86% of the firm capacity of the plants in operation is contracted to date under several power purchase agreements with the distribution companies and larger consumers in the Republic of Panama untill 2018.
The company use to also own a thermal power plant with a capacity of 42.8 MW located in Panama City, which was shut down in 2005 and transferred to Empresa de Generacion, S.A.