AIC Caribbean Fund portfolio company, InterEnergy Holdings, announces investment in 215MW wind farm in Panama

Panama
Abril 24, 2014

On April 24, 2014, InterEnergy invested, through its subsidiary IEH Penonome Holdings, in a new 215 MW wind project in Panama with a total projected investment of US$ 427 million with Unión Eolica Panameña S.A. (“UEP”). The investment marks the second of InterEnergy's geographic expansion in Latin America and the Caribbean and also marks InterEnergy's return to Panama after a five-year hiatus.

The project will feature 86 Goldwind G109 2.5 MW wind turbine generators with a hub height of 90 meters. This turbine is a three-bladed, permanent magnet direct-drive, upwind, horizontal-axis, pitch-regulated, variable-speed machine. Goldwind is among the largest manufacturers of wind turbines globally and is the largest manufacturer of Permanent Magnet Direct Drive wind turbines.  

The InterEnergy team is confident that this new expansion will bring reliable clean-energy to the region, eliminating over 400,000 tons of CO2 emissions and save near 900,000 barrels of oil per year when completed. Construction for the project has already commenced and is expected to be completed in April 2015.

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For more information visit www.portlandpe.com or contact Douglas Hewson at dhewson@portlandpe.com.

About Portland Private Equity: 

Based in Barbados, Portland Private Equity is a private equity fund management company currently focused on opportunities in the Caribbean region through its management of the AIC Caribbean Fund (ACF). Building on Portland’s track record of successful investments throughout the Caribbean region, ACF is a ~$230M fund focused on medium-sized businesses. Companies in Portland’s portfolio do business in over 20 countries throughout the Caribbean, Central America, and Latin America.