This paper aims to present an alternative with respect to the current plan of two point-to-point HVDC lines of connection between Colombia and Panama and Guajira-Cerromatoso, using a VSC MTDC link between the substations Colectora 2 and Cerromatoso in Colombia and Panama II in Panama. This paper presents a methodology used for the selection of the optimal voltage level of the MTDC grid, based on cost analysis of the construction and operation of the transmission lines required. Additionally, a sensitivity analysis will be performed related to the power capacity of each link, this with the objective of establishing a reference for future projects of similar characteristics, facilitating the selection of the optimal voltage level.