German renewable energy group UKA has confirmed a $200 million investment in a new wind farm in Antón, Coclé province, marking one of the largest recent renewable energy commitments in Panama. The announcement came after several years of regulatory and legal procedures to secure interconnection with the national grid.
The La Colorada Wind Project will have a generation capacity of 140 MW, using 20 advanced wind turbines, each capable of producing 7 MW.
The investment is based on a provisional license granted by Panama’s Public Services Authority (ASEP) in 2021, which is currently under final review. UKA also plans to participate in the next national energy supply tender, expected in early 2026, to strengthen the project’s long-term viability and access to financing.
UKA is a German company with 25 years of experience in developing renewable energy projects. It has a presence in Germany, several other European countries, Chile and Panama and employs more than 1,000 people globally.
Business Opportunity: Long-term Renewable Energy Supply Tender
Earlier this year Panama’s Electric Transmission Company (ETESA) published an international tender for the long-term supply of firm power & energy from new hydroelectric and wind power plants (LPI ETESA 01-25). According to the tender specifications the objective is to contract renewable energy for a period of 20 years, with supply starting 1 January 2029. Total tender value is estimated at 1 B. USD.
A total of 33 companies attended ETESA’s clarification meeting that took place on July 21, 2025. The deadline for proposals is 30 January 2026.