Goldwind USA Inc. closes financing for 55MW Penonome Wind Farm
55 MW wind farm is Panama's first wind project
CHICAGO, Aug. 5, 2013
CHICAGO, Aug. 5, 2013 /PRNewswire/ --Officials with Goldwind USA, Inc.
announced todaythat the company has closed a USD $71
millionprojectfinancing deal for the 55MW project, which represents the
first phase of the Penonome wind farm, located in the Province ofCocle,
Panama.Thisprojectrepresentsthe largest wind energyproject utilizing
Goldwind wind turbinesfinancedbywestern lenders.Sponsors for the deal,
Goldwind International Holdings (HK) Limited
andUnionEolicaPanamenaS.A.(UEP),wererepresented by members ofGoldwind
Capitalin Chicago andUEPin Panama, respectively.
BancoInternacionalde Costa Rica, S.A.(BiCSA)andBancoEspiritoSanto
deInvestimento, S.A.(BESI)led the financing as MandatedLead Arrangers.The
10-year construction and term facility is financed through commitments from
leading banks and a syndicate of local, regional and international lenders.
"Thisfinancing demonstratesthe commitmentby the Sponsors,the bank
groupand the Government of Panamato the realization of wind power in
Panama," saidTim Rosenzweig, CEO of Goldwind USA, Inc."Goldwind is excited
to play a critical role in developing the nation's first wind farm."
Daniel Gonzalez, BICSA's General Manager in Panama, echoed Rosenzweig's
comments: "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."
The project will strengthenPanama'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
utilityAltenergy, S.A., a subsidiary of GDF Suez, S.A.
The55 MWfirstphase of thetotal planned 220 MWPenonome wind projectwill
feature22 ofGoldwind'sGW2.5MW Permanent Magnet Direct Drive (PMDD) wind
turbines.Once complete in 2014, the 220 MW Penonome wind project will be the
largestwindenergy projectin both Panamaand Central America.Coupled with
recent awards in Chile and Ecuador, thisdeal marks Goldwind'scontinued
growth within the Latin American market and success of its revolutionary PMDD
turbines. As of the end of 2012, Goldwind has deployed over 12 GW of PMDD
turbines globally – by far and away, the world's leader.
Throughout the past several years, Goldwind has been widely recognized for its
success in globalizing operations.The company has opened subsidiaries in the
United States, South Africa,Chileand Australia; each region is staffed with
experienced local wind professionals, representingGoldwind's ethos to
globalize through localization.
Xinjiang Goldwind Science & Technology Co., Ltd., is the largest manufacturer
of wind turbines in China, and among the largest in the world. With strong R&D
capabilities, the Company is the world's largest manufacturer of permanent
magnet direct-drive wind turbines, representing the industry's next generation
technology. Goldwind is listed on the Shenzhen Stock Exchange (stock code
002202) and The Stock Exchange of Hong Kong (stock code 2208).
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 the 31st 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. That wind power generation capacity is equivalent to 12
million tons of coal saved per year or 29.91 million tons of carbon emissions
reduced per year or 16.4 million cubic meters of newly planted forest.
About Union Eolica Panamena S.A. (UEP)
Founded in 2008 as the Panamanian affiliate of Spain's Union Eolica Espanola,
Union Eolica Panamena (UEP) is engaged in the development, construction and
operation of wind projects in Panama. UEP´s affiliate group has developed
more than 1,200 MW of wind power in Spain. Between 2010 and 2012, the
Government of Panama awarded UEP definitive concessions for several wind farms
located in Panama's Cocle Province: La Rosa de los Vientos (102MW), Nuevo
Chagres (169MW), Maranon (18MW) and Portobelo (48MW). These projects are in
various s stages of development with the final phase planned to reach
commercial operation by 2015.
T: +1 617.970.4418
SOURCE Goldwind USA, Inc.
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