Goldwind USA Inc. closes financing for 55MW Penonome Wind Farm 55 MW wind farm is Panama's first wind project PR Newswire 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. About Goldwind 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. Contact: Goldwind USA Chicago, USA Colin Mahoney T: +1 617.970.4418 E:email@example.com SOURCE Goldwind USA, Inc. Website: http://www.goldwindglobal.com
Goldwind USA Inc. closes financing for 55MW Penonome Wind Farm
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