Enel Green Power Panama and City of Knowledge, an innovation community that drives social change through humanism, science and businesses, have signed a power purchase agreement for the supply of 4000 megawatt-hours of electricity a year.
The 10-year deal also includes a three-year collaboration agreement that aims to develop joint initiatives that promote generation and consumption of clean energy, decarbonisation and energy efficiency, among others.
Electricity will initially come from the Fortuna hydro plant and later from a new photovoltaic project to the main building of the City of Knowledge.
The City of Knowledge comprises around 200 buildings that are used as study centres, offices, co-working areas, laboratories and workshops.
It also has auditoriums for events, temporary accommodation, residential areas, commercial establishments, green spaces and cultural, recreational and sports facilities.
Enel Green Power Panama country manager Maximilian Winter said: “Enel Green Power places innovation, based on sustainability, at the centre of our business strategy.
“And as part of that strategy, we promote open innovation, not only towards companies in the industry but also towards emerging companies, academic institutions, universities and research centres that share our vision.”
Under the terms of the three-year deal projects related to Sustainable Development Goals will be developed across education, clean energy, economic growth, climate action, sustainable cities in the provinces of Panama, Cocle and Chiriqui.
An eco-route to study the ecosystems of the Gualaca altitude biological corridor will also be established.
The deal will also promote the City of Knowledge as an international centre of excellence to generate, disseminate and apply knowledge at the service of human development, taking advantage of the competitive advantages of the Republic of Panama.
Enel said that there is a possibility of extending the three-year agreement.
City of Knowledge executive president Jorge Arosemena said: “Sustainability and innovation are our reason for being at Ciudad del Saber and nothing pleases us more than sealing this alliance with Enel Green Power, which will allow us, through the consumption of renewable energy, to operate in an even more sustainable way and continue to contribute to the decarbonisation and energy transition goals of Panama and the world.
“We hope to be able, together with Enel, to transmit this shared vision to our stakeholders to continue with our mission of promoting relevant social changes for the benefit of our country.”