With this acquisition AES Panamá continues to execute on its strategy to diversify its portfolio of sustainable energy solutions.
Panama, April 28, 2020 —AES Panamá S.R.L, a company jointly owned by The AES Corporation (NYSE: AES) and the Republic of Panama, has agreed to acquire the 55-megawatt Penonomé I (one) Wind Project from Goldwind Americas (“Goldwind”), a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd. (SZSE: 002202) (HK: 2208).
This acquisition will help strengthen and diversify the AES portfolio in Panama through the integration of renewable energy. Moreover, this action reaffirms our commitment to Panama, which has been demonstrated by our sustained investments in the energy matrix for the past 21 years.
Miguel Bolinaga, President of AES in Panamá, noted “we are pleased to add this new wind generation facility to our portfolio, it demonstrates our commitment to increase our renewable energy generation and to continue to invest in the Republic of Panama.”
“With this new wind facility, we will continue to deliver reliable energy to our clients through efficient and clean burning technologies, which will translate into a better standard of living and more opportunities for sustainable business”, commented Edgar Ivankovich, Director of Communications and External Relations.
The UEP wind project, located in the Coclé Province on Panama’s southern coast, is comprised of 22 Goldwind GW109/2500 permanent magnet direct-drive turbines.
The facility has been operating since 2014, it creates 20 direct and indirect jobs and it includes a 300-hectare land field. With an installed capacity of 55 MW, the project brings AES Panamá ́s total operating capacity up to 609 MW.
This acquisition reaffirms AES Panama ́s commitment to the Republic of Panama and it is in line with AES Corporation ́s commitment to reduce CO2 emissions by 70% in 2030, in comparison with 2016 values.
We are pleased to continue serving this great country - and with the incorporation of this wind farm into our business - accelerating the adoption of cleaner energies and leading the transition to renewable energy.
About AES Panama
AES Panama S.R.L (a company jointly owned by The AES Corporation (NYSE: AES) and the Republic of Panama) owns an aggregate of 554 MW of electric generation capacity through its various operating facilities (La Estrella, Los Valles, Esti y Estrella del Mar I). AES Panama has been investing in the country since 1998, and over this time, has successfully developed a portfolio of sustainable infrastructure solutions and helped to reduce CO2 emissions by nearly 16 tons. For more information please visit: www.aespanama.comTwitter: @aespanama Facebook: @AES.PTY