AES Panamá

What AES Panamá does

AES Panamá is the Panamanian operating subsidiary of The AES Corporation (NYSE: AES), a US-headquartered Fortune 500 global power company. Founded in 1999 and headquartered in Panama City, AES Panamá operates 1,141 MW of diversified generation capacity across seven facilities spanning hydroelectric (Bayano 260 MW, Chiriquí complex 222 MW, Changuinola 223 MW), natural gas combined-cycle (Colón 381 MW), wind (Eólica Penonomé 55 MW), and solar (5B Colón 2 MW). The company has cumulatively invested over $2.6 billion in Panama since 1999 and serves commercial and industrial customers through direct electricity supply agreements and the Mi Energía customer portal.

The company's defining infrastructure is the Colón LNG Hub — the first liquefied natural gas terminal in Panama and Central America, operational since 2019, with 180,000 cubic meter storage capacity that supports first-ever LNG distribution contracts for Panama and Costa Rica and enables cleaner-fuel transition for regional thermoelectric plants. The Colón plant's combined-cycle technology is 50% more efficient than conventional plants and uses one-third less water, contributing to a cumulative 16 million tonnes of CO2 reductions across AES Panamá's operations. Technology partnerships include Australian solar innovator 5B (whose Maverick pre-assembled modules were deployed at Colón as their first project outside Australia) and Inversiones Bahía (49% financial partner in the $1.15 billion Colón project).

AES Panamá generates revenue primarily through electricity generation and sales to commercial and industrial customers (including enterprise contracts such as the Cervecería Nacional energy supply agreement) and transaction-fee LNG distribution via the Colón Hub to regional power companies and transportation-sector customers (e.g., a natural gas vehicle pilot with Mi Bus). The company operates with a lean team of 168 employees supported by global AES Corporation capabilities, and runs the affiliated Fundación AES Panamá for social programs reaching 3M+ beneficiaries.

Name

AES Panamá

Legal name

The AES Corporation

Website

https://aespanama.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

AES Panamá is the Panamanian subsidiary of NYSE-listed AES Corporation, operating 1,141 MW of diversified hydroelectric, natural gas, wind, and solar generation. It serves commercial and industrial customers and operates the first LNG terminal in Central America, the Colón Hub, supplying fuel across the region.

Ownership category

akta.pro rank

Product category

Power Generation & Energy Supply

NAICS

Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111), Hydroelectric Power Generation (221111), Wind Electric Power Generation (221115), Fossil Fuel Electric Power Generation (221112)

SIC

Electric, Gas & Sanitary Services (4900), Natural Gas Transmisison & Distribution (4923), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Hydro Balance-of-Plant EPC (Penstocks, Gates, Intake/Outfall, Auxiliaries) (EUAEADAH)

Keywords

• Electricity generation
• Power generation services
• LNG distribution
• Renewable energy
• Hydroelectric power

Headquarters

HQ city

Panama City

HQ country

Panama

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Electricity Generation and Sales: AES Panamá operates 1,141 MW of power generation capacity and sells electricity to commercial and industrial customers, including direct supply agreements with large enterprises like Cervecería Nacional.
2. LNG Distribution: The Colón LNG Hub enables distribution of natural gas to other power companies in Panama and the Central American region, including termoelectric plants seeking cleaner fuel alternatives.
3. LNG Distribution Contracts: First LNG distribution contracts for Panama and Costa Rica, distributing natural gas to power companies in the region.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

AES Panamá generates and supplies electricity to commercial, industrial, and government customers in Panama through a diversified portfolio of 1,141 MW of hydroelectric, wind, solar, and natural gas combined-cycle generation assets. It also operates the Colón LNG Hub, the first LNG terminal in Panama and Central America, distributing natural gas fuel to other power companies in Panama, Costa Rica, and the broader Central American region. Customers access the service through direct negotiated supply agreements, and manage contracts online via the Mi Energía digital portal.

Product overview

AES Panamá operates as a power generation and energy services company offering both physical energy generation assets and a digital customer portal. Its power generation portfolio spans hydroelectric, wind, solar, and liquefied natural gas (LNG) technologies, totaling 1,141 MW of installed capacity across seven facilities: Bayano (260 MW hydroelectric), Complejo Hidroeléctrico Chiriquí (222 MW across three plants), Changuinola (223 MW hydroelectric), Colón (381 MW LNG with an associated GNL hub), Eólica Penonomé (55 MW wind), and 5B Colón (2 MW solar). These assets collectively serve Panama's energy needs while supporting sustainability and clean energy goals. In parallel, AES Panamá provides the Mi Energía digital portal, a customer-facing online platform that allows clients to manage their energy contracts.

Differentiator

Problem solved

Functional benefit

Brands

• Mi Energía: Customer portal for managing energy contracts - allows customers to manage their energy contracts quickly and easily.

Products and services

• Bayano Hydroelectric Plant A 260 MW hydroelectric generation facility located 80 km east of Panama City on the Bayano River, supplying renewable electricity to Panama's grid and large commercial and industrial customers.
• Chiriquí Hydroelectric Complex A 222 MW hydroelectric complex composed of three plants — La Estrella (47.2 MW), Los Valles (54.8 MW), and Estí (120 MW) — located in Chiriquí province, supplying renewable electricity.
• Changuinola Hydroelectric Plant A 223 MW hydroelectric plant located in Bocas del Toro province within the Palo Seco Protective Forest, leveraging waters from the Changuinola and Culubre rivers.
• Colón LNG Power Plant and Hub A 381 MW liquefied natural gas combined-cycle power plant and the associated Colón LNG Hub terminal in Colón province, operational since 2018 with the LNG hub added in 2019. The Hub enables natural gas distribution to other power companies in Panama and Central America via pipeline and truck loading.
• Eólica Penonomé Wind Farm A 55 MW wind farm located in Coclé province featuring 22 Goldwind GW109/2500 turbines at 90-meter tower height, with a net capacity factor of 27.5%, acquired by AES Panamá in 2020.
• 5B Colón Solar Installation A 2 MW solar installation using 5B's pre-wired, pre-assembled Maverick technology, operational since January 2021 and representing 5B's first project outside Australia.
• Mi Energía Customer Portal A digital self-service portal for AES Panamá customers to manage their energy contracts quickly and easily online.

Quantifiable outcome

• CO2 emissions reduced by approximately 16 million tonnes
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered minor, major and core.

• Mi BusminorStrategic or Co-development Partner · 10 May 2023Partnership to conduct a pilot test with buses running on Natural Gas Vehicle (GNV) fuel, supporting transportation sector transition to cleaner energy.
• Cervecería NacionalmajorStrategic or Co-development Partner · 17 November 2020Energy supply partnership with Cervecería Nacional, reaffirming commitment to sustainable energy for commercial and industrial customers. Both companies also collaborate on environmental initiatives.
• 5BcoreTechnology or Integration · 30 July 2020Strategic alliance with 5B, an innovative solar technology company based in Sydney, Australia. AES made a strategic investment in 5B and deployed their Maverick pre-assembled solar technology at Colón. The 2MW project was completed in just 3 weeks and was the first 5B project outside Australia.
• Island PowerminorStrategic or Co-development Partner · 1 January 2020Partnership with Island Power to introduce the first LNG truck in Central America, enabling mobile natural gas distribution.
• GoogleminorStrategic or Co-development PartnerCollaboration related to how Google uses data centers to accelerate global clean energy adoption.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Celsia: Colombian power generation company with a diversified portfolio across hydro, wind, solar, and thermal — the closest analog to AES Panamá's multi-technology generation model in Latin America. Both serve industrial and commercial customers via direct PPAs.
• AES Andes: Parent AES Corporation's South American subsidiary operating in Chile, Colombia, Argentina, and Brazil with diversified generation including hydro, wind, solar, and thermal — directly comparable business model, customer mix, and asset structure to AES Panamá.
• Naturgy: Spanish gas and electric utility with LatAm LNG and power operations, particularly in gas distribution and combined-cycle generation; comparable to AES Panamá's LNG hub and combined-cycle Colón plant business.
• EPM (Empresas Públicas de Medellín): Large Colombian multi-utility operating generation, distribution, and gas businesses in Latin America; comparable in scale, vertical integration, and customer base to AES Panamá's commercial-industrial focus.
• Enel Américas: Latin American arm of Enel Group operating generation, distribution, and renewables across the region; directly comparable in customer mix, geographic focus, and integrated utility model to AES Panamá.

Broad incumbents

• Iberdrola: Spanish global utility with substantial renewable generation presence across Latin America (Mexico, Brazil); competes with AES Panamá in wind and solar EPC, generation, and corporate clean energy procurement.
• Duke Energy: US-headquartered global energy company with Latin American generation and distribution operations; broader portfolio than AES Panamá but similar multinational utility model and clean energy transition focus.
• Enel Green Power: Global renewables arm of Enel Group with operations across Latin America including Central America; competes with AES Panamá in wind and solar generation and PPAs with large industrial customers in Panama and the region.
• ENGIE: French multinational utility with significant Latin American renewable and thermal generation assets; competes directly with AES Panamá for hydro/wind/solar projects and industrial PPAs in Central and South America.

Regional players

• ISA (Interconexión Eléctrica): Colombian multinational focused on electricity transmission, but also generation across Latin America; comparable regional peer given its infrastructure scale, concession-based model, and Latin American footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights6 records

Customer concentration

• Xx.com/aespanama
• YouTubeyoutube.com/user/aespanama
• Facebookfacebook.com/AES.PTY
• LinkedInlinkedin.com/company/aes-panam%C3%A1
• Instagraminstagram.com/aesenpanama

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AES Panamá