Work on 67.5-MW wind project in Panama to start in Jan 2016 - report

Construction work on the fourth phase of Panama's Penonome wind farm will begin in January 2016 and will add about 67.5 MW of capacity to the existing plant, reports local newspaper Panama America.

Project company Penonome UEP II SA estimates it will pour around USD 130 million (EUR 119.9m) into that stage, its chief executive Rafael Perez-Pire said, as cited by the paper. This would bring the total investment to some USD 700 million.

The first three phases of the plant are already completed and have a total installed capacity of 270 MW.

The CEO also pointed out that once the Penonome wind farm is completed it will help reduce the region's dependency on fossil fuels and will help the electric system save approximately USD 129 million.

(USD 1.0 = EUR 0.923)

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