A history of accelerating the future of energy, together

From its founding and to today, AES has led lasting positive change in the energy sector based on its stakeholders’ most critical needs.


  • 1999: AES begins operations in Panama by winning an international tender for the concessions of Bayano, La Estrella and los Valles hydroelectric power plants; previously owned and operated by the Government.


  • 2000: Construction of Estí hydroelectric power plant begins
  • 2002: Improvements are made to the Bayano hydroelectric plant: Unit 1 is repowered and 88 MW Unit 3A is added
  • 2003:  The 120 MW Estí hydroelectric power plant starts operations
  • 2004: Additional improvements are done to Bayano hydroelectric plant: the 12 MW Unit 2 is repowered
  • 2006: AES Panama achieves the largest bond emission registered in the Panama Stock Exchange to date at USD $300 Million
  • 2006: AES Panama achieves the certifications of OHSAS 18001 and ISO 14001 for the Integrated Management System in its power plants
  • 2007: Construction of Changuinola hydroelectric plant with 223 MW begins


  • 2011: Changuinola hydroelectric plant starts operations
  • 2013: Changuinola achieves a bond emission for USD $420 Million in the Panama Stock Exchange, achieving a new record in the national market, and the bond qualifies as local grade investment with a rating of A+ pan by Fitch Ratings
  • 2014: The company sets out to buy, transport and install the barge Estrella del Mar I to add 72 MW of energy to the system by Q1 2015 in face of a drought that was causing energy shortages
  • 2015: Barge Estrella del Mar I in the province of Colon begins operations
  • 2015: Changuinola is included in the ISO 14001 and OHSAS 18001 certification
  • 2015: AES wins tender to construct Colón, the first LNG fired power plant in the region with 381 MW capacity
  • 2016: The administrative building  in Estí becomes auto sustainable by consuming 100% solar energy generated in our facilities
  • 2016: The construction of Colón power plant and LNG hub starts
  • 2016: The Rural electrification project in Changuinola begins
  • 2017: The Hydrobiological station is inaugurated in Changuinola
  • 2018: Colón, the first LNG fired power plant in the region with 381 MW capacity, begins operations
  • 2019: The first LNG Hub in Panama and Central, including a 180,000 m3 tank and a reception terminal for boats, begins operations


  • 2020: Construction of solar projects in Panama begins, formed by 4 solar farms with a capacity of 40 MW
  • 2020: AES reaffirms its commitment to renewable energy with the acquisition of its first wind project in the country named Eólica Penonomé, a 55 MW wind farm in the province of Coclé
  • 2020: Tropigas Natural  and Colon LNG Marketing, a subsidiary of AES, signed its first contract to supply liquified natural gas (LNG) through lorry tanks to Panama and Costa Rica
  • 2021: Start of operations of the ROCC (Remote Operation Control Center) in AES Panama
  • 2022: Inauguration of four solar parks: two in Boquerón, Chriquí; one in Pesé, Herrera; and another in Pocrí, Los Santos
  • 2022: Rural electrification project concludes in Zumbona, a community neighboring the Bayano Hydroelectric Power Plant
  • 2022: Inauguration of the Innovation Hub