Partners secure financing for 215 MW wind power project in Panama

Goldwind USA, the US unit of Xinjiang Goldwind Science & Technology, said the International Finance Corp. of the World Bank has financed the 215 MW second phase of the Penonome Wind Project located in the province of Cocle, Panama which will use 86 Goldwind 2.5 MW permanent magnet direct drive wind turbines.

The World Bank-led financing provides $300 million for the project, which is expected to reach commercial operation in 2015. The supply of turbines to this project represents Goldwind's largest international wind turbine order.

The Goldwind portfolio of permanent magnet direct-drive wind turbines are designed for high power generating efficiency, power quality and grid code compliance, and reduced maintenance and total operating expenditures.

Unlike a gearbox-driven turbine, the permanent magnet direct-drive design reduces the number of high-speed rotational parts and avoids the sources of expensive faults that require crane mobilization. The Goldwind PMDD wind turbine dramatically reduces the cost of power generation over the life of a project.

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