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A German company, Wind 7 AG is working with the Panama company Aerogeneradores Cerro Azul S.A. in developing a wind farm near Colon. Generation of 200 megawatts of power is expected from this wind farm which could supply power for up to 10,000 homes. The project will require an investment of up to $400 Million USD to include 15 giant turbines and the supporting structures. The project is expected to take two years to develop.

With the high cost of fossil fuels expected to rise steadily with the emergency of India and China as industrial powers investment in wind farms makes sense. For Panama which imports all of its oil this sort of project is doubly important. Panama may well have its own refinery in the not too distant future but it will still process imported oil.

The Colon wind farm is not the only wind farm in Panama. Santa Fe Energy is running wind farm test sites also capable of generating substantial amounts of electricity.

Because Panama generates hydroelectric power and has fossil fuel generated power, it can use wind farm power for clean energy while it has the capacity to generate backup power on wind free days.

Panama’s intention of linking into an electric grid with Columbia will further balance power needs allowing wind farms to supplement power needs.

Panama, Infrastructure, and Investment

Panama already has the highest per capita rate of foreign investment in Latin America. The various infrastructure projects from the Panama Canal expansion, to highway and port improvements, to wind farms provide jobs and current economic prosperity. For future investment it is important to note that Panama is plowing money into its future. These investments all are aimed at drawing capital to Panama, providing more income producing services in Panama, reducing the cost of operations in Panama, and in general enhancing Panama’s economic competitiveness.

You do not need to be a part of the Panama Canal expansion or start a wind farm to prosper in Panama. Panama’s recent revamping of its credit laws has empowered Panama’s small business community to the point where it may general more prosperity than all the mega projects combined. All of those small business entrepreneurs need office space, warehouse space, and more. The opportunity here lies in the investment in and leasing of commercial real estate.

Competent and trustworthy firms such as ABPanama are plugged in to Panama’s commercial real estate investment opportunities. ABPanama has over twenty-three years experience managing real estate portfolios. Contact ABPanama if you are interested in investment in commercial real estate to tie into Panama’s continuing economic growth.