Goldwind Sells Stake In Panamanian Wind Project

Goldwind Americas today announced the sale of its 55-megawatt Penonomé I (one) Wind Project to AES Panamá S.R.L. ("AES Panamá"), a subsidiary of The AES Corporation (NYSE: AES) and Panama's largest power generator.

"The Penonomé I Wind Project was not only Goldwind's first in the central American country but it was also Panama's initial foray into wind energy. We are proud we could be a part of that," says David Sale, Chief Executive Officer for Goldwind Americas. "The sale of the Penonomé I Wind Project to AES Panamá further demonstrates the strong accreditation of Goldwind's industry-leading Permanent Magnet Direct-Drive turbine technology among leading power producers across the Americas."

"We are excited to execute this transaction with AES Panamá, Panama's largest power producer," says Saad Qais, Chief Financial Officer for Goldwind Americas. "The lasting impact of AES Panamá's investment in the Penonomé I Wind Project will be a cooperation built on a common desire to provide strong, sustainable power production throughout the Americas."

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."

The Penonomé I Wind Project, located in the Coclé Province on Panama's southern coast, is comprised of 22 Goldwind GW109/2500 Permanent Magnet Direct-Drive turbines. Goldwind bought the project from Union Eolica Panameña (UEP) in 2012 and reached commercial operation for the wind park in 2014.

Under the terms of the deal with AES Panamá, Goldwind Americas will continue to support the project's operations at industry-leading availability levels.