Panama Energy Sector Outlook: Economic Development, Energy Security and Affordability

In July 2024, the administration of José Raúl Mulino took office with a commitment to expanded economic growth and employment opportunities in Panama. The energy sector is a key area of focus and crucial for reaching the new government’s goals and objectives. Indeed, with increasing climatic events including this year’s dramatic El Niño compromising energy security and by extension economic security, the challenges are clear. These broader issues are accentuated by a series of financial concerns for the sector particularly with regards to infrastructure development and consumer prices and bills. Assessing how auctions and procurement for additional energy supplies and capacity to enhance energy security will be managed is essential. Ongoing debate and discussion about the country’s longstanding legal and regulatory framework are also crucial for the sector in the new year and going forward.

To address these issues and the outlook for Panama’s energy sector, we are pleased to host a virtual roundtable discussion featuring a keynote presentation by Juan Manuel Urriola, Panama’s Secretary of Energy and commentary from Rolando González Bunster, Chairman & CEO of InterEnergy.

Keynote Speaker

Juan Manuel Urriola
Panama’s Energy Secretary

Secretary Urriola is a distinguished professional with an extensive academic background, including a Master’s in Administration with a specialization in Finance from the Instituto Tecnológico de Monterrey and Postgraduate studies in Project Management and Power Systems Engineering at renowned centers in Germany and the United States.

With longstanding experience in the energy sector, he has held executive positions in important projects such as National and International Electrical Integration, as well as with leading companies in the sector in Panama. Additionally, he has served as an international consultant, collaborating with governmental organizations and promoting Regional Electrical Integration in Central America and Colombia. His leadership has been fundamental in developing wind, solar, and natural gas generation projects in Panama, as well as implementing the country’s first Methane Gas Generation plant. He is a member of the Advisory Board at the Instituto Tecnológico de Monterrey, demonstrating his commitment to education and the training of professionals in the energy sector.

Commentary by:

Rolando González-Bunster
Chief Executive Officer & Chairman | Chairman of the Board
InterEnergy

Rolando founded the business in 1988 and has over 40 years of experience in project management and business development.

He began his career at Gulf & Western Industries where he started out as a special assistant to chairman and founder Charles Bluhdorn, eventually becoming its youngest corporate Vice President and Head of International Operations. After Gulf & Western, Rolando went on to establish his own companies to acquire and operate assets in the region.

Rolando, Georgetown University College Class 1968, serves on many of his alma mater’s boards. He was Chair of the International Initiatives Board and is currently a trustee on the Board of Advisers of the Georgetown College of Arts and Sciences and director of the Latin American Board.

He is a Director and Trustee of the William, Hillary and Chelsea Clinton Foundation. He is also a member of the Energy Committee of the Clinton Global Initiative, focusing on the development of clean and renewable energy. Rolando is proud to be a founding member of the Walkabout Foundation which has distributed 21,000 wheelchairs to date.

*Free to attend but registration is required.

En julio de 2024, la administración de José Raúl Mulino asumió funciones con el compromiso de expandir el crecimiento económico y las oportunidades de empleo en Panamá. El sector energético es un área clave de enfoque y crucial para alcanzar los objetivos y metas del nuevo gobierno. De hecho, con el incremento de eventos climáticos, incluyendo los efectos dramáticos de El Niño este año, que comprometen la seguridad energética y, por ende la seguridad económica, los desafíos son claros. Estos problemas se acentúan por una serie de preocupaciones financieras para el sector, particularmente en lo que respecta al desarrollo de infraestructura y los precios y facturas de los consumidores. Es esencial evaluar cómo se gestionarán las subastas y adquisición de suministros y capacidad de energía adicional para mejorar la seguridad energética. El continuo debate y discusión acerca del marco legal y regulatorio del país también son un aspecto crucial a considerar para el sector en el nuevo año y en adelante.

Para abordar estos temas y las perspectivas del sector energético de Panamá, nos complace organizar una mesa redonda virtual con una presentación principal del Ingeniero Juan Manuel Urriola, Secretario de Energía de Panamá, y comentarios de Rolando González Bunster, Presidente y CEO de InterEnergy.