Hidro Piedra SA and Panam Development Corp. will invest USD 46 million to build two hydropower plants to add electricity to the national grid. The Rio Piedra project is located on the Rio Piedras, near the city of Portobelo.

The facility will have an installed capacity of 8.5MW and will consist of two 4.25MW Pelton hydroturbines. At the moment, the site is being prepared and roads are being built. Construction of the facility is expected to begin in December 2010 and last about 24 months.

The estimated investment for this project is USD 30 million. The Ojo de Agua project is located by the Grande river in La Pintada city. The plant will be equipped with two 3.25MW Francis hydraulic turbines, providing a total output of 6.5MW.

Construction is expected to begin at the begining of 2011, with plant start-up scheduled for early 2013. The total cost of this project is about USD 16 million.