Enel Enters Panama Electric Market

Italian electricity company Enel is to increase its holdings in Central America through a stake in Panamanian hydroelectric plant Fortuna. Enel has agreed to pay $150 million for a 24.55% share in Fortuna via the ownership of its holding company Hydro Quebec International Latin America. Fortuna is one of Panama’s leading electricity companies, generating around 30% of the country’s power. According to Enel “the Panamanian market is part of the larger Central American power market, which is experiencing extensive development characterised by economic and regulatory integration”. Enel also owns hydroelectric plants in Costa Rica, Guatemala and Chile.