The University of Panama (UP) has signed a concession contract with Greenwood Energy for the development of a 40 MW utility-scale solar plant in David, Panama.

Greenwood Energy, a subsidiary of the Libra Group, will be responsible for developing the solar plant at a 40-hectare site owned by the university. The project currently is in the pre-construction phase and is expected to launch in Q3 2022. The plant will be supplying clean energy to power the university for more than 35 years and avoid 380,000 tons of CO2 emissions in that time. The estimated investment value for the project is US$30 million over a concession period of 20 years.

The solar plant is part of the Framework Agreement for Academic Collaboration and Technical Assistance signed between UP and Greenwood energy, which involves the provision of funding over a period of several years by Greenwood energy to support the continued development of Panama’s renewable energy sector, including scholarship grants, research and development programs, training, internships, laboratory equipment, and more.