Panama Business.Goldwind USA, the US subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (Shenzhen Stock Exchange: 002202, the Stock Exchange of Hong Kong Limited: 2208) ("Goldwind"), announced today that the International Finance Corporation ("IFC") of the World Bank has financed the 215MW second phase of the Penonome Wind Project located in the Province of Cocle, Panama which will utilize 86 Goldwind 2.5MW permanent magnet direct drive ("PMDD") wind turbines. The World Bank-led financing provides $300M 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.
"This financing by the IFC/World Bank highlights confidence lenders and customers place in Goldwind's 2.5MW technology," said Andrew Evans, Director of Structured Transactions for Goldwind USA, Inc. "Goldwind is proud to play a leading role in the expansion of renewable energy infrastructure across the
"The successful financing of the Penonome project demonstrates the continued acceptance of Goldwind's PMDD technology in the global marketplace," said Vikaas Rao-Aourpally, Director of Sales for Goldwind USA, Inc. "Goldwind's gearless design leads to higher availability and a greater value proposition for our customers."
The global leader in the deployment of PMDD turbines, the Goldwind portfolio of permanent magnet direct-drive wind turbines are designed for high power generating efficiency, superior power quality and grid code compliance, and significantly 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.