$300 million project financing secured for 215 MW Panama wind turbine project

Goldwind USA has announced that the International Finance Corporation (IFC) of the World Bank has financed the 215 MW second phase of the Penonome Wind Project in Panama.
$300 million project financing secured for 215 MW Panama wind turbine project

Penonome wind project is located in the Province of Coclé, Panama, and will utilise 86 Goldwind 2.5 MW permanent magnet direct drive wind turbines. The World Bank-led financing has provided a total of $300 million for the project which is expected to begin commercial operations in 2015. The supply of turbines to this wind farm is Goldwind’s largest international wind turbine order.

Goldwind’s portfolio of permanent magnet direct-drive wind turbines are designed for high efficiency power generation, grid code compliance, significantly reduced maintenance and operating costs. The permanent magnet direct-drive design differs from a gearbox-driven turbine in that it reduces the number of high-speed rotational parts thereby reducing incidences of expensive faults that require crane mobilisation.

Goldwind USA is the US subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd, which is one of the largest wind turbine manufacturers in China and the second largest by market share globally. Goldwind USA is based in Chicago where it serves as the headquarters for operations in North America.

For additional information:

Goldwind USA

International Finance Corporation (IFC)

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