During the 70th United Nations General Assembly in New York, SkyPower, the world’s largest developer and owner of utility-scale solar projects, made a historic announcement with President Juan Carlos Varela, unveiling its plans to build 500 MW of utility-scale solar energy over the next five years in Panama, representing an investment of $1 billion.

In addition to building 500 MW of solar projects in Panama, SkyPower will also construct a $50 million solar and environmental research center in Panama dedicated to the advancement of solar photovoltaic (PV) innovation as well as advanced research and innovation in environmental sciences.

To be built in affiliation with several universities and research institutions, this research facility will clearly distinguish Panama as the definitive hub for new solar technologies and innovation in Central America, and is expected to generate licensing revenues for Panama.

Furthermore, SkyPower is proud to announce it will 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.

SkyPower is proud of its commitment to sustainability and educating youth, and has made a landmark commitment to sponsor a school for each megawatt it installs on Panamanian soil.