Work has started on the first phase of the Toabré wind power generation project in Panama, with an investment of over $150 million.

From a statement issued by Audax Renovables:

Badalona, May 9, 2018.- Audax Renewables, subsidiary of renewable energy generation in the Audax group, which is participating together with local partners in the project of the Toabré wind farm in Panama, wishes to state that construction work has been started for the first phase of 66 MW of installed power of the wind farm with a total investment of more than 150 million dollars.

See: “Energy projects in Panama”

To ensure the necessary funds for the project, Parque Eólico Toabré, S.A., has signed a 12-year financing agreement, for a total amount of 104 million dollars, in which a syndicate of banks from Panama and the Central American region will take part, with Banco Prival, S.A. acting as an agent bank.

Read full release (in Spanish).