Pacora power plant, Panama
The Pacora Power Plant project was originally sponsored by El Paso as a merchant plant based on the investors' trust in the Panamanian regulatory frame, macroeconomic conditions and social stability. The Pacora power plant, owned by Pedregal Power Company, is the first plant ever in the history of Central America to obtain a non-recourse category financing and with no need of a prior energy and power purchase-and-sale agreement.
Financial close: December 2001
Start of commercial operation: January 2003
BWSC’s role: Co-developer, shareholder, EPC contractor and O&M contractor
Power Purchase Agreement (PPA): Merchant plant, tendering for short-term power purchase agreements and on the spot market.
The 53.5 MW plant consists of three 18V48/60 medium speed diesel engines with alternators supplied by MAN Diesel operating on heavy fuel oil.
The generating sets are located in a powerhouse together with the auxiliary equipment, and with outdoor radiator coolers and step-up transformers to supply power to the grid at 230 kV.
Owners: Pedregal Power Company