Goldwind USA finances 55 MW wind farm in Panama

Goldwind USA Inc. closed a $71 million project financing deal for the 55 MW wind power project, which represents the first phase of the Penonome wind farm, located in the province of Cocle, Panama.

The 55 MW first phase of the total planned 220 MW Penonome wind power project will feature 22 of Goldwind’s GW 2.5 MW Permanent Magnet Direct Drive wind turbines. The project is slated for completion in 2014.

This project is the company’s largest wind energy project to be financed by Western lenders. Goldwind USA is a unit of Xinjiang Goldwind Science & Technology Co.

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 unit of GDF Suez, S.A.

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