Audax Renewable in Panama

Audax Renovables, the Audax group company dedicated to the generation of energy from renewable sources, has begun construction of the Toabré wind farm in Panama. The project, shared with local partners, will lead to the construction of a first phase of 66 MW of installed power and over 150 million dollars invested. 
To carry out the project, the established company Parque Eólico Toabré has obtained financing for 12 years for a total amount of 104 million dollars. The Banco Prival of Panama is acting as the agent, although the enterprise is supported by a consortium of banks from Panama and some Central American countries. 
Located in the areas of Penonomé and Antón, the park will be built under the EPC contract modality by Elecnor – a Spanish group that manages large infrastructure projects – and will lead to the construction of 20 Vestas V117 model turbines. The construction period is expected to not exceed 22 months, including the construction of the 66MW, two substations and a 27-kilometer power evacuation line already designed for future phases, with an annual production of 240GWh. 

It should also be recalled that, in January 2014, the company Parque Eólico Toabré was awarded a tender (LPI-ETESA-03-13 issued by Empresa Estatal de Transmisión Eléctrica, SA ETESA) for the sale of electricity over the next 15 years, in line with the Panamanian government's objective of achieving increasingly safe, continuous and clean energy distribution, including through the exploitation of renewable sources. 

The development plans devised after the Audax group took control of Audax Renovables are bearing fruit and the start of construction of the Panamanian project strengthens and consolidates the future of the group's company dedicated to the generation of energy from clean sources.