in News Departments > Projects & Contracts
print the content item

Goldwind USA has closed a $71 million project financing deal for the 55 MW Penonome wind farm, the first in Panama.

According to Goldwind, the project represents the largest wind energy project using Goldwind wind turbines financed by western lenders. Sponsors for the deal, Goldwind International Holdings Limited and Union Eolica Panamena S.A. (UEP), were represented by members of Goldwind Capital in Chicago and UEP in Panama, respectively.

Banco Internacional de Costa Rica, S.A. and Banco Espirito Santo de Investimento, S.A. led the financing as mandated lead arrangers. The 10-year construction and term facility is financed through commitments from leading banks and a syndicate of local, regional and international lenders.

The 55 MW first phase of the total planned 220 MW Penonome wind project will feature 22 of Goldwind’s 2.5 MW permanent magnet direct drive wind turbines. Once completed in 2014, the 220 MW Penonome wind project will be the largest wind energy project in both Panama and Central America, notes Goldwind.

Goldwind notes that the project, located in the province of Cocle, will strengthen Panama’s energy matrix, complementing the existing technologies and creating more balance and security for the national electrical system. The power generated from the facility will flow to utility Altenergy, S.A., a subsidiary of GDF Suez, S.A.


Trachte Inc._id1770
Latest Top Stories

Sen. Grassley Makes Another Legislative Push For Wind PTC Extension

U.S. Sen. Chuck Grassley, a long-time wind power advocate, recently made an effort to bring attention to the importance of a production tax credit extension.


Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.

Navigant_id1983
Canwea_id1984
Renewable NRG_id1934