Panama Technology Industry Company (ITP), involving Belgian and Spanish capital, will invest $10 million (7.7 million euro) in the first phase of a center of manufacture and maintenance of wind power equipment. It will be the third in Latin America, after those in Brazil and Mexico.
According to CEO of ITP, Maxo Benalal, implementation of the project has been delayed a year because of the international financial crisis, however, said that everything is scheduled to begin construction in September.
ITP has a presence in the country with two wind projects, one on de Veraguas, located in the homonymous province, and another of Boquete, in the Ngobe Bugle, representing an investment of 300 million dollars (233 million euro).
In the future works will be drawn up the T-600 (600 kW induction generator) and T-1600 (1.6 MW synchronous generator, still under development and completion forecast for next year.)
In the Americas, ITP also has a presence in Nicaragua, Costa Rica, Dominican Republic, the United States and Colombia.