The Panama Renewable group is a young, diversified group of companies (part of the Panama Group) with interests in Wind, Solar and Hydro Energy. Backed by an unwavering enthusiasm since its inception to take on new challenges in renewable energy fields, Panama Renewable has remained committed to its stakeholders and philosophy. Panama Renewable is at the
forefront of transforming the way India produces Energy from Renewables and strongly positioned to develop, build, and operate clean energy infrastructure of the future.
The proposed project activity involved the installation of Wind Power Projects. The total installed capacity of the project is 80 MW; which involves the operation of 40 Wind Turbine Generators (WTGs) with a capacity of 2 MW, each located at Maharashtra state in India. The project is promoted by Panama Wind Energy Godavari Private Limited.
The power production displaced an equivalent amount of power from the grid, which was fed mainly by fossil fuel-fired power plants. Hence, it resulted in the reduction of GHG emissions. GHG emission reductions from the project activity amounted 136,936 tonnes of CO2 and total GHG emission reductions for the chosen 10 year crediting period amounted 1,369,360 tonnes of CO2.
The project was intended to get registered under the CDM but was delayed due to certain reasons. EKI Energy, however, evaluated the situation and registered the project with Verified Carbon Emission (VCS) mechanism on a deadline basis. Now, Panama is a well-known project in the VCS Market.