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$71M Financing for Penonome Wind Farm in Panama

2 WTG in Panama

Goldwind USA announced that it closed financing for Phase I (55MW) of the Penonome Wind Farm in Panama, a project supported by Prizma. Once complete, the 220 MW project will be the largest wind energy project in Central America.(Shortlink: http://wp.me/p27qSt-AN)

Banco Internacional de Costa Rica, S.A. (BiCSA) and Banco Espirito Santo de Investimento, S.A. (BESI) were the Mandated Lead Arrangers for this US$71 million project finance deal. As shown in the image above, the second turbine was erected about two weeks ago (image courtesy of Goldwind). Once complete in 2014, the 220 MW Penonome wind project will be the largest wind energy project in both Panama and Central America.

As blogged earlier, Prizma has been retained to support the Penonome Wind Farm development in Panama. Our team provides environmental and social impact assessment expertise relevant to the Equator Principles. This is a credit risk management benchmark used by leading financial institutions (known as Equator Banks) to determine and manage environmental and social risks in project finance and related transactions.

About the author: Mehrdad Nazari (MSc, MBA, LEAD Fellow) is a Senior ESIA & CSR Advisor, and Director of Prizma. He has over 20 years of professional experience, including 10 as a Principal Environmental Specialist at the European Bank for Reconstruction and Development (see LinkedIn profile here). Prizma also delivers short courses on the Equator Principles and the IFC Performance Standards. The next courses will be hosted by Parsons Brinkerhoff on September 23, 2013 in London, and TD Bank on October 29, 2013 in Toronto. Additional information and registration details are provided in the course brochure which can be accessed here.
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2 Responses to “$71M Financing for Penonome Wind Farm in Panama”

  1. December 21st, 2013 at 5:06 pm

    Providing EPIII and IFC PS training to Nordic institutions | PRIZMA says:

    […] Equator Principles and IFC Performance Standards using a variety of case studies. These ranged from wind farm to off-shore oil and gas developments. The case studied were analyzed in smaller working groups and […]

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