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Renewable energy technologies overwhelmingly dominated Panama’s latest electricity procurement round, with more than 90% of submitted proposals coming from clean energy projects.
The LPI 01-26 tender, designed to contract firm capacity and energy from existing power plants, received 71 bids in total, of which 67 correspond to renewable energy technologies. Only three proposals were submitted for thermal generation, based on bunker fuel or natural gas.
Among the renewable bids, hydropower clearly leads, followed by solar photovoltaic (PV) projects. The breakdown of proposals includes:
48 hydropower offers
13 solar PV projects
1 wind power proposal
5 hybrid offers, combining technologies such as hydropower and solar, or a mix of hydropower, solar and wind
If the maximum monthly generation capacity declared by renewable bidders is aggregated, the theoretical peak could reach around 1,441 MW.
However, this figure represents only a technical maximum, as each technology reaches peak generation at different times of the year. In addition, several companies submitted alternative bids using the same generating units, meaning that the full 1,441 MW would not be injected into the grid simultaneously.
“The response recorded today reflects market confidence in a process announced well in advance and conducted under clear rules. That certainty allows market participants to prepare and participate, and the result can be seen in the number of bids received,” said Rodrigo Rodríguez, Panama’s National Secretary of Energy.
The LPI 01-26 tender includes three procurement categories designed to secure firm capacity and energy supply from existing power plants while ensuring operational flexibility and system reliability.
Key procurement categories
Under the tender rules, certain thermal facilities must commit to converting to more efficient combustion technologies within 36 months, a requirement aimed at improving the operational performance of the generation fleet.
Category 3 reflects the growing role of renewable energy in Panama’s power matrix, with demand rising progressively:
150 MW in 2026
200 MW in 2027 and 2028
300 MW in 2029
Up to 500 MW towards the end of the supply period
Rodríguez emphasised that the procurement process was designed with transparent and predictable rules, allowing developers and generation companies to prepare their bids in advance.
The tender will now move into the technical and economic evaluation phase before the final contract awards are announced.
Key dates in the LPI 01-26 process
The LPI 01-26 tender is part of Panama’s broader electricity procurement programme aimed at:
Strengthening power system reliability
Diversifying the generation mix
Stabilising electricity tariffs for consumers
In parallel, the country is running another procurement process focused specifically on new renewable energy capacity: the LPI ETESA 01-25 tender, which forms part of the same long-term contracting strategy to expand generation capacity.
Within this strategy, Panamanian authorities have also begun incorporating energy storage technologies as a key element to ensure grid flexibility and stability, particularly as the share of variable renewable energy sources such as solar and wind power continues to grow.
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