SkyPower to build 500MW of utility-scale solar energy over the next five years in Panama, representing an investment of US $1 billion.
In addition to building 500MW of solar projects in Panama, SkyPower will also construct a US $50 million solar and environmental research centre in Panama dedicated to the solar photovoltaic (PV) innovation as well as research and innovation in environmental sciences.
Furthermore, SkyPower to announce it will fund 250 scholarships for Panamanian students who are studying in the fields of solar technology and environmental sustainability, through an annual grant of 10 scholarships per year for each of the 25 years its solar projects are generating clean energy.
"SkyPower invests in countries that uphold environmental sustainability and preservation while advancing their economies and industries. 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," said Kerry Adler, SkyPower President and Chief Executive Officer.
"We welcome the announcement from SkyPower and look forward to working together to bring US investment dollars for clean energy and green jobs to Panama," said Emanuel Gonzalez-Revilla, Ambassador of the Republic of Panama to the United States.
"SkyPower's estimated US $1 billion investment is expected to create more than 10,000 total job years in Panama, and create opportunity to export solar panels proudly made in Panama," added SkyPower Chief Commercial Officer Charles Cohen.