Courtesy of the meeting room of the board of directors of the Chamber of Commerce, Industries and Agriculture of Panama (CCIYAP), the manager of the Electric Transmission Company, Carlos Mosquera Castillo, presented the milestones, achievements and advances of ETESA in key projects and sensitive areas, as part of the transparency and accountability policy carried out by this state-owned company.
Among the issues exposed by the manager of ETESA -and that caused the greatest interest among businessmen- are aspects such as the financial health of the company, maintenance of the investment grade at BBB-stable and local investment grade AAA granted by rating agencies. Fitch Rating and Moody’s Investors Service, the ISO 9001:2015 quality management certification, the high percentage of compliance (97%) of the preventive maintenance plan, as well as the good reliability indicators of the transmission system.
Other issues that particularly caught the attention of the CCIYAP directors were the expansion projects of the transmission system such as the Sabanitas-Panama III Line, which is in full execution and is scheduled to be completed by the end of this year, the IV Transmission Line that will be developed in the modality of public-private association, and the Panama-Colombia interconnection project, which is in the final stage of its feasibility.
After the presentation by the manager of ETESA, the president of the CCIYAP, Marcela Galindo, highlighted the importance that the state electricity company has given to the timely maintenance of the high voltage electrical transmission system, in order to meet the expectations and cover the needs of the demand.
As a whole, the directors and advisors of the CCIYAP congratulated the administrative management of ETESA and expressed great confidence in the state company, after the accountability carried out by senior management.
The ETESA manager concluded by highlighting the benefits of the most emblematic projects, such as the increase in high-voltage energy transport capacity, the considerable increase in the penetration of non-conventional renewable sources and compliance with the energy transition agenda, the increase the reliability of the system and the reduction of transmission losses and their costs that go to the final consumer.
