SkyPower has reached a historical agreement with Panama President Juan Carlos Varela to invest US$1 billion in developing 500MW of utility-scale solar energy in the country over the next five years. The announcement was made on the 70th United Nations General Assembly in New York,
"SkyPower's estimated US $1 billion investment is expected to create more than 10,000 total job years in Panama, and create opportunity to export solar panels proudly made in Panama," said SkyPower Chief Commercial Officer Charles Cohen.
In addition to building 500 MW of solar projects in Panama, SkyPower will also construct a US $50 million world-class solar and environmental research center in Panama dedicated to the advancement of solar PV innovation as well as advanced research and innovation in environmental sciences.
Furthermore, SkyPower announced to fund 250 scholarships for Panamanian students who are studying in the fields of solar technology and environmental sustainability, through an annual grant of 10 scholarships per year for each of the 25 years its solar projects are generating clean energy. This investment in the future of Panamanian students will begin with the first kWh of energy that SkyPower's solar-energy projects will generate in Panama.