As part of the agreement, the project is scheduled to complete in four phases and commence operations in 2013 in the Cocle province.
Goldwind Americas CEO Tim Rosenzweig said that the company will build the project in partnership with UEP.
"The Penonome wind farm represents Goldwind’s commitment to the central and South American markets and will play a crucial role in Panama’s impressive efforts to move towards a renewable energy future," he added.
UEP CEO Rafael Pérez-Pire further said, "The efficiency of Goldwind’s advanced permanent magnet direct-drive technology and ability to meet the stringent Panamanian grid code requirements, make the Goldwind turbine an ideal fit for the Penonome site."
Goldwind will supply, erect and commission the wind turbines and a power plant and also monitor the balance of construction and electrical interconnection to the local grid.
