Supporting Large Wind Farm in Panama

Prizma has been engaged by Unión Eolica Panameña II (UEPII), a Special Purpose Company controlled by InterEnergy Holdings, to support a 215 MW wind project - named Laudato Si - wind park in Penonomé, Panama with a total projected investment of US$ 427 million.   Shortlink: http://wp.me/p27qSt-DN

The Laudato Si wind park features 86 Goldwind G109 2.5 MW wind turbine generators with a hub height of 90 meters. Construction for the project has already commenced and is expected to be completed in April 2015. The project is expected to eliminate over 400,000 tons of CO2 emissions and save nearly 900,000 barrels of oil per year when completed.

Prizma will be assisting UEPII to ensure that environmental and social aspects of the project are aligned with the IFC Performance Standards and Equator Principles.  IFC is currently considering (i) a Senior Loan from IFC’s own account of US$66m, (ii) MCPP loan of US$49.5m, (iii) mobilization of up to US$205m from DFIs and Commercial banks and (iv) potentially an IFC equity investment of US$20m. The Non-technical Summary (NTS) of the ESIAs can be accessed on IFC's website (see here). As blogged previously, Prizma also assisted UEPI, controlled by Goldwind USA, with the development of the first phase (55 MW) of the Penonomé Wind Farm development in Panama.

Dec 16, 2014 update: As reported by bloomberg, Penonomé - Central America’s largest wind farm capable of generating five percent of Panama’s power demand - will receive a $300 million loan from the International Finance Corporation (IFC), the World Bank’s corporate funding arm.

Prizma is an independent, networked and outcome focused ESIA and Sustainability advisory practice. We help make projects more bankable, credible and sustainable. Prizma's diverse projects include:

5 Comments to Supporting Large Wind Farm in Panama

  1. […] from Equator Banks, Export Credit Agencies and Multilateral Financial Institutions by improving ESIAs to facilitate compliance with IFC Performance Standards, and contributes to reviews by Independent […]

  2. […] Implementation Note. It provides a valuable reference for Equator Banks and practitioners, such ESIA consultants, Independent Engineers and assurance providers. It also highlights the new complexities of the […]

  3. […] wind farm in Central America. Prizma's involvement in the Penonome project was previously posted here. Shortlink: […]

  4. […] reporting and assurance services, our projects range from generating bankable ESIAs for utility scale wind farm developments to contributing to independent engineering reviews of mining projects for financial institutions […]

  5. […] contributed to the environmental and social aspects of this interesting project, about which I blogged earlier.  Allow me to share with you the awesome time-lapse clip embedded below. It shows the transport […]

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