Celsia and Chevron reach agreement for the installation and operation of a solar plant in Bahía las Minas, Colón, strengthening their commitment to sustainable development in Panama

The following is a machine translation of a Celsia release

Celsia, an energy company of the Argos Group, which focuses its efforts on energy efficiency projects and management of generation, transmission and distribution assets in more than 5 countries, and especially on solar energy for companies, recently reached an agreement with Chevron of Panama for the installation and operation of a solar plant at the fuel terminal located in Bahía Las Minas, Colón, which will have an installed capacity of 4.03 MWp, allowing Chevron to obtain 100% of the energy required for its operations at the terminal through renewable energy.

“At Celsia we are committed to the sustainable development of Panama and the region, since, as an energy company, we also play a fundamental role in the transition process towards the decarbonization of the country's energy matrix. For this reason, we are very excited to start this project with Chevron, and to be able to offer our strategic partners solutions that support them in their efforts for responsible management of their assets with a view to sustainable development. In this way, we promote economic development and care for the environment, contributing to the active reduction of our carbon footprint and that of our strategic allies,” said Javier Gutiérrez, Leader of Celsia Central America.

It is important to highlight that, through this solar farm, Chevron, at the Bahía las Minas Terminal, which is the largest fuel storage facility in the country, will stop emitting 1,809.3 tons of carbon dioxide (CO2) per year, which is equivalent to 100,519 mature trees planted. The installation will consist of 6,714 solar panels spread over an area of 4 hectares.

This project highlights the fundamental role that renewable energies play in the fight against climate change, and reflects the shared vision of both companies to help Panama remain carbon negative.

For her part, Doriana Hun, General Manager of Chevron Panama, highlighted that “this project is fully aligned with our global goal of reducing the carbon footprint and, by 4Q 2024 or 1Q 2025, when the panels are in operation, we will have Chevron's operations at the terminal completely carbon neutral. At Chevron, we are focused on the ESG journey, both with a global and corporate vision, as well as locally. It is important that we, as business managers, can lead by example and demonstrate that everything is relevant to help achieve the goals of the 2030 Agenda.

Even small initiatives and projects like the ones we have in our offices in Panama can bring significant results. In 2023, we saved more than 28 thousand liters of water and more than 5,623 kWh of energy, and we stopped releasing more than 2 tons of CO2 EQ into the atmosphere.”

About Chevron

Chevron Panama, through its Texaco brand, has been operating in the country for more than 85 years. It has more than 80 service stations – operated by local companies supported by Chevron – and employs more than 800 people directly and indirectly. It operates a fuel terminal in Bahía las Minas, which is responsible for a high percentage of the country's fuel supply. It also provides services for four airports and has more than 40 industrial clients, marketing petroleum products such as motor fuels, bunker fuel, asphalt and LPG.

Chevron is one of the world's leading integrated energy companies, exploring for, producing and transporting oil and natural gas; refining, marketing and distributing transportation fuels and other energy products and services; manufacturing and selling petrochemical products; generating power; and developing and marketing the energy resources of the future, including biofuels. Chevron is headquartered in San Ramon, California. For more information, visit www.chevron.com.

About Celsia

In Central America, Celsia focuses primarily on the solar energy business for corporate clients. They have 55 MWp in operation in Panama, Costa Rica and Honduras, and by 2026 they expect to reach 200 MWp of installed capacity. In this regard, it is important to highlight that, as part of their energy efficiency solutions, they are working to expand the transmission and distribution asset management model.