Remember, that's 100% efficient continuous 100MW. Realistically, you're looking at 3-5x that for peak power. With the current 10m drop, the head is too low to have anything like an efficient generator. Even the full 86ft drop would be terribly inefficient at the flow rates required.
However, there are solutions to things like this called a "water slope" and one has been built (notably 100x smaller than needed for Panama) and they would (need to) be much quicker as well. Basically, they push a giant slug of water up hill. Notably, one could probably make this regenerative (and you could likely reuse most of the water). That's important since it would certainly be in the multiple GW of power, but it could push/pull (two moving locks up/dn) in <1000sec so traffic through the canal could be more than 5x higher. Of course it would require massive widening, completely new infrastructure (a new giant power plant), and completely new technology.
Here's video of one (and a link to the original) with an explanation. My point is not that this is easily doable, but if you're going to spend the many $10Bs of you might as well get more boats through.
https://youtu.be/N34QXyr-FY4?t=201