The project will be built in four phases, with Goldwind Capital, the manufacturer/developer's equity arm, providing the capital to support the first phase of development.
The full project, which is planned for operation in 2013, will be the largest in both Panama, and Central America.
Coupled with recent awards in Chile and Ecuador, the deal marks Goldwind’s fourth wind farm in Latin America.
“We are thrilled to partner with UEP on this critical project,” said Tim Rosenzweig, CEO of Goldwind for the Americas. “The Penonome wind farm represents Goldwind’s commitment the central and South American markets and will play a crucial role in Panama’s impressive efforts to move towards a renewable energy future”
Goldwind will be supplying, erecting and commissioning the wind turbines and power plant including the supervision of work performed by the balance of plant contractor on civil works construction, electrical and transmission interconnection to the Panamanian Electric System.
“The efficiency of Goldwind’s advanced permanent magnet direct-drive technology and ability to meet the stringent Panamanian grid code requirements, make the Goldwind turbine an ideal fit for the Penonome site, ” said Rafael Pérez-Pire, CEO of UEP.
The project will strengthen the country’s energy matrix, complementing the existing technologies and creating more balance and security to the national electrical system.
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