Naturgy announces an investment of $630 million for the next 4 years

This Naturgy Panama release was published using machine translation.

Panama, January 26, 2024- Naturgy, leader in the distribution of electrical energy in Panama, enthusiastically celebrates its twenty-fifth anniversary in the country. Since its arrival in 1998, the company has been dedicated to the development and modernization of the electrical distribution system, providing energy to more than 750,000 customers in its concession area, which covers close to 60% of the country's energy supply, in residential sectors. , commercial, industrial and institutional.

An Investment of $630 million for the Energy Future of Panama

Naturgy Panama announces an investment of $630 million dollars for the next four years. These funds will be allocated to quality projects and maintenance of the existing network, including the development of new circuits and substations. This investment reinforces Naturgy's commitment to providing a reliable and sustainable energy supply in Panama, opening the doors to an era of greater energy efficiency and security.

Commitment to Sustainable Development and Environment

Throughout these 25 years, Naturgy has invested more than $1.5 billion in the country, also demonstrating a solid commitment to the environment and sustainable development. The company has a 100% renewable energy generation portfolio, contributing significantly to the reduction of the carbon footprint globally, in line with Panama's Sustainable Development objectives for 2030. In addition, Naturgy with its reforestation program has planted more than 130,000 trees, underlining its commitment to the conservation of biodiversity and the protection of ecosystems.

Corporate Social Responsibility in action

Corporate social responsibility is a fundamental pillar in Naturgy's philosophy. The company carries out a Corporate Responsibility Policy focused on education, the environment and social action through the Naturgy Foundation and agreements with local institutions. One of the outstanding programs is the "Solidarity Day", which has allowed more than 120 Panamanian students with academic excellence and limited resources to access training in various disciplines. In 2023, Naturgy launched the Efigy Technology Contest, which encourages and rewards the creativity and teamwork of secondary education students in energy efficiency projects.

Significant achievements in 25 years

Throughout its history in Panama, Naturgy has achieved important achievements, such as the construction of the first armored substation in 2005. In celebration of its 25th anniversary, it inaugurated the Justo Arosemena substations in Panama City and the Interconnection Project Colón Island in Bocas del Toro to the National Interconnected System, also installing the first submarine electric power cable in the country.

Strategic Focus on Working Conditions and Customer Service

At the labor level, Naturgy has implemented strategic plans that promote continuous improvement in working conditions, safety management, health, well-being and gender equality. The approach has led to a significant reduction in accidents, approaching the goal of 0 accidents and 36% of the workforce being women, as well as 40% of the Steering Committee.

In the field of customer service, the company has taken on the challenge of adapting and providing advanced technological tools, such as the Naturgy Panama Clients App and the Virtual Office. Naturgy seeks to enable its clients to carry out 100% of their transactions using virtual tools in the near future.

Towards an Innovative and Sustainable Future

This twenty-fifth anniversary represents a year of celebration and progress on the path towards a more sustainable and efficient energy future. The company is prepared to lead the changes in business models and regulations that will allow a better response to demand and ensure the continuity of a reliable supply in the country.

Naturgy Panama maintains its commitment to a reliable and sustainable energy future for Panama, backed by a transformative investment of $630 million dollars for the next 4 years.

Let's commemorate together

Naturgy and the Government of Panama are pleased to invite you to a unique projection show. Join this visual journey through the last 25 years of Panamanian history. The screenings will take place at the Government Building, in front of the Belisario Porras Park, on January 27 and 28, in batches of 7:00 pm, 7:30 pm, 8:00 pm and 8:30 pm Discover with us the most outstanding moments that have defined our identity. Free and for the whole family! Do not miss it!