The ɅLMɅ solar power plant is part of the “Academic Collaboration and Technical Assistance Framework Agreement” signed between GWE and UP whereby GWE will provide UP funding to support the continued development of from Panama renewable energy sector, including scholarships, research and development programs, training, internships, laboratory equipment, etc. Once the agreement ends in year 20, ownership of the solar plant will transfer to UP for the remainder of the plant’s life cycle.
The 40 megawatt solar project, which is currently in pre-construction, is expected to start in the third quarter of 2022. This scalable partnership model is the second launched by GWE in Latin Americaand will enable UP to become the first public university in Latin America be powered entirely by renewable energy sources. The ɅLMɅ solar power plant will cover an area of 40 hectares owned by UP, providing clean energy to power the university for over 35 years and avoiding 380,000 tonnes of CO2 emissions during that time.
Panama has one of the most diverse energy matrices Latin America, of which 60% of the electricity comes from renewable resources, mainly hydroelectric. With reliance on hydroelectricity, from Panama energy security has been significantly affected as climate change has slowed the flow of rivers which account for almost half of from Panama energy resources. As a result, Panamanians have had to deal with increasingly unstable power supplies and highly fluctuating and expensive energy tariffs.
“Our goal is not only to create and develop renewable energy projects, but above all to build the infrastructure, including a knowledge base, in the long term,” said Menelao Mora de la Lastra, Senior Vice President of Greenwood Energy. “We are honored to be entrusted by the University of Panama with this important initiative. foster mother follows our partnership with the indigenous tribes of Colombia and shows what is possible when community is at the heart of development.”
“foster mother represents a further step in the transformation and modernization of the University, in line with our roadmap towards academic consolidation,” said Eduardo Flores CastroRector of the University of Panama. “This project reinforces the innovative strength of our institution by placing technology at the center of education. Through the development of new sustainable methodologies such as this solar installation, our University is more than ready to play an active role in the transformation of society, setting an example for other institutions around the world to follow.”
“This partnership represents Libra Group’s commitment to reinventing development through our affiliates around the world. This includes creating dynamic and scalable models that advance economic and educational opportunities for future leaders and lay the foundation for goal-driven development,” said Libra Group Chairman and CEO. CEO Georges Logothetis. “We are proud to work with a university that shares our belief that creating a more sustainable planet is the only way forward for global institutions and we look forward to following the future of this important project.”
About University of Panama
Since its founding in 1935, the University of Panama (www.up.ac.pa) has steadily grown to become the largest higher education institution in the country, with 90,548 students and 4,696 professors and teachers, supported by an administrative staff of 4,605. With two campuses in Panama City and 17 regional centers and university extensions across the country, the University of Panama is dedicated to training professionals and citizens to enhance their superior capabilities, integrity, humanitarianism, innovation, social engagement, while encouraging proactive participation in the transformation of society. Under the direction of sustainable human development and the principles of education, the University promotes the public social good, in accordance with the universal right and duty of the Panamanian State.
About Greenwood Energy and the Libra Group
Greenwood Energy (www.greenwood.energy) is one of the clean energy subsidiaries of the Libra Group (www.libra.com), an international business group whose subsidiaries own and operate assets in more than 50 countries. Greenwood Energy is currently developing or managing nearly 180 MW of on-site solar energy systems for public and private sector organizations wishing to offset their energy costs in Latin America, including the first large-scale project in Panama.
The Libra Group is primarily active in six sectors, including renewable energy, aviation, hospitality, real estate and shipping, as well as some diversified investments. Along with Greenwood Energy, Libra Group subsidiaries, including Greenwood Sustainable Infrastructure (www.greenwoodinfra.com) in North Americaand Euro Energy (www.euroenergie.com) will soon reach the gigawatt mark of renewable energy development, which includes solar, wind and waste-to-energy in six countries.
Cristina Aby-Azar | [email protected] | 917-754-1559
Ben Finzel | [email protected] | 202-277-6286
SOURCE Libra Group