Dec 17, 2014 - Spanish electric engineering group Ingeteam said Tuesday it had opened a subsidiary in Panama in response to expected investments in local renewable energy in the next few years.
The move came as a result of Panama's decision to invest in renewables in line with its 2009-2023 energy plan, which includes studies on wind and photovoltaic (PV) power.
The subsidiary focuses on operation and maintenance services for renewable energy plants as well as equipment marketing and after-sales services. It is expected to employ 20 workers in the course of 2015.
Ingeteam is responsible for operation and maintenance of the wind turbines and substation of the first wind farm in the country, a 55-MW park that could be expanded to 165 MW. Additionally, this year the company has connected two local PV plants of 200 kW and 15 kW.
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