MASPV secures financing for a 40 MW solar plant in Panama with an investment of 28 million dollars

The Spanish company MASPV, a leader in solar energy production, has closed the financing for the construction of a 40 MW photovoltaic plant in the province of Veraguas, northwest of Panama. This project, which has a budget of 28 million dollars, has been supported by local financial entities, including Banistmo and the Panama national bank.

This project reinforces MASPV's commitment to sustainability and the development of clean energy in Latin America

The plant, which will house more than 100.000 solar panels, is scheduled to come online in April 2025 and will feature energy storage systems. It is expected to generate 65 GWh annually, making a significant contribution to sustainability in the region by avoiding the emission of 16.250 tons of CO2 per year, saving 5.590 tons of oil and saving nearly 300.000 trees each year.

Carlos Pérez, director of MASPV in PanamaHe highlighted the country's strategic importance for the company's growth: "After more than 7 years developing projects in Panama, MASPV is strengthening its position in the main markets of Latin America and Asia by establishing agreements with local entities to develop photovoltaic projects that make a difference in the race for sustainability in each country where we operate. And Panama is precisely a strategic country for the Group's growth, where we plan to develop projects totaling 150MW."

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