Guandolo, also called guarapo, is panela dissolved in cold water and sharpened with lime. Nothing is cooked and nothing ferments: the panela melts on its own over about an hour. It is the everyday cold drink of Colombia's sugarcane regions, and it makes seven glasses.
Chop or grate the panela before it goes in the water. A whole block can take several hours to dissolve, while small pieces take about one. Add the ice to the glasses rather than the jug, so the drink does not water down as it sits.