Goldwind USA Inc. announced today that the company has closed a $71 million project financing deal for the 55MW project in Panama, which represents the first phase of the Penonome wind farm, located in the Province of Cocle.
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“This financing demonstrates the commitment by the Sponsors, the bank group and the Government of Panama to the realization of wind power in Panama,” said Tim Rosenzweig, CEO of Goldwind USA Inc. "Goldwind is excited to play a critical role in developing the nation's first wind farm."
The first phase of the total planned 220 MW Penonome wind project will feature 22 of Goldwind's GW2.5MW Permanent Magnet Direct Drive (PMDD) wind turbines. Once complete in 2014, the 220 MW Penonome wind project will be the largest wind energy project in both Panama and Central America.
This project represents the largest wind energy project utilizing Goldwind wind turbines financed by western lenders. Sponsors for the deal, Goldwind International Holdings (HK) 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. (BiCSA) and Banco Espirito Santo de Investimento, S.A. (BESI) 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 strong support from official sector, regional and international banks underscored the essential quality of this renewable energy project and the strength of the sponsor team, and we are proud to support the development of this new alternative energy source for Panama's growing economy,” said Daniel Gonzalez, BICSA's general manager in Panama.
The project 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.
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer of wind turbines in China, and among the largest in the world. Chicago-based Goldwind USA serves as the headquarters for operations in North and South America.
Established in early 2010, Goldwind USA leverages a global network of offices and partnerships to offer a variety of wind power solutions including sales and service platforms to customers and strategic partners throughout the Americas.
By December 2012, Goldwind's accumulated wind power installations exceeded 15,000MW, and it has installed more than 12,000 wind turbine units around the world.
“This financing demonstrates the commitment by the Sponsors, the bank group and the Government of Panama to the realization of wind power in Panama,” said Tim Rosenzweig, CEO of Goldwind USA Inc. "Goldwind is excited to play a critical role in developing the nation's first wind farm."
The first phase of the total planned 220 MW Penonome wind project will feature 22 of Goldwind's GW2.5MW Permanent Magnet Direct Drive (PMDD) wind turbines. Once complete in 2014, the 220 MW Penonome wind project will be the largest wind energy project in both Panama and Central America.
This project represents the largest wind energy project utilizing Goldwind wind turbines financed by western lenders. Sponsors for the deal, Goldwind International Holdings (HK) 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. (BiCSA) and Banco Espirito Santo de Investimento, S.A. (BESI) 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 strong support from official sector, regional and international banks underscored the essential quality of this renewable energy project and the strength of the sponsor team, and we are proud to support the development of this new alternative energy source for Panama's growing economy,” said Daniel Gonzalez, BICSA's general manager in Panama.
The project 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.
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer of wind turbines in China, and among the largest in the world. Chicago-based Goldwind USA serves as the headquarters for operations in North and South America.
Established in early 2010, Goldwind USA leverages a global network of offices and partnerships to offer a variety of wind power solutions including sales and service platforms to customers and strategic partners throughout the Americas.
By December 2012, Goldwind's accumulated wind power installations exceeded 15,000MW, and it has installed more than 12,000 wind turbine units around the world.