IFC to finance 215MW phases of Panama's largest wind project

The International Finance Corporation (IFC), a World Bank affiliate, will provide $300m financing for the Penonome wind project’s 215MW second and third phases in Panama, which will utilize 86 2.5MW Goldwind turbines.

17 December 2014 15:46 GMT Updated 27 September 2016 5:39 GMT

By Richard A. Kessler

It consist of a $80m senior loan from IFC’s own account, a $60m senior loan from IFC’s Managed Co-Lending Portfolio Program and $144m in IFC syndicated senior loans from other development finance institutions and Panamanian banks.

IFC will also provide a $16m subordinated loan from its own account.

InterEnergy Holdings expects the project, the largest in Central America, to enter commercial operation in 2015.

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IFC to finance 215MW phases of Panama's largest wind project