Barcelona-based Gas Natural Fenosa to stay in Panama for 15 more years through Edernet and Edechi

Barcelona (ACN).- Gas Natural Fenosa confirmed on Wednesday it will continue to operate in Panama for at least 15 more years through its subsidiary electricity companies Edernet and Edechi. The Catalan multinational company owns 51% of both Edernet and Edechi, while the rest of the shares are controlled by Panama’s Government. These two companies control 65% of the country’s electricity market and supply more than 500,000 clients. The Barcelona-based company entered Panama in 1998 and, according to Gas Natural Fenosa’s information, it has since invested more than €400 million to strengthen the electric power network of the Central American country. In addition, the Catalan company foresees an additional investment of €230 million within the next 4 years.

Edernet and Edechi operate in Central and Western Panama. They run an electricity network of more than 20,000 km that covers an area of some 46,000 square kilometres. Gas Natural Fenosa is operating in 9 Latin American countries, where it administrates electricity and natural gas supplies, as well as power generation.