North American Windpower: 54 MW Mexican Wind Project Secures Financing

in News Departments > Projects & Contracts

by NAW Staff on Tuesday 15 January 2013

Compania Eolica de Tamaulipas S.A. de C.V (CETSA) - a group consisting of Organizacion Soriana, Mexico-based GEMEX and Swiss investor Grupo ECOS - has closed on the financing for the construction of its first wind energy project.

The North American Development Bank (NADB) and Mexican commercial bank Grupo Financiero Banorte are providing a $51 million loan to CETSA for the project.

The wind farm, located in Reynosa, Tamaulipas, consists of 30 Vestas 1.8 MW turbines. Mexican retailer Organizacion Soriana will purchase the electricity produced by the wind farm through a long-term power purchase agreement.

“This electricity will be used by Soriana to supply 163 stores throughout Mexico,” says Aurelio Adan Hernandez, Soriana’s chief financial officer. “Construction is scheduled to begin during the first quarter of this year and is estimated to cost more than $130 million.”

“This is the first wind energy project in Mexico to be funded by NADB,” adds Geronimo Gutierrez, managing director at NADB. “It’s an example of the joint efforts of the public and private sectors to implement clean energy projects, as well as supports the efforts of the state of Tamaulipas and the Mexican government to combat climate change.”

Don't miss the latest wind energy news -- register to receive NAW's news headlines.

Latest Top Stories

As U.S. DOJ Investigates, Duke Works Adaptive Management Plan

With previous golden eagle fatalities reported at two company-owned wind farms in Wyoming, Duke Energy Renewables is going to great lengths to protect raptors.

DOE To Recast Landmark 20% Wind Energy Report; Study Looks Back, Ahead

The U.S. Department of Energy will update its 20% Wind Energy By 2030 report, which indicated increased levels of wind penetration for the U.S. is not only possible but feasible.

Wind Energy Procurement Top Of Mind For Big-Name Companies

With greater frequency, top-tier companies are discovering the economic and environmental power of wind energy and upping their investments in the resource.

WINDPOWER Panelists Issue A Call To Arms: Protect RPS Mandates

Votes on several legislative bills concerning state renewable portfolio standards (RPS) are nearing. How can you help protect and maintain these development drivers?

Wind Industry Still Awaits First Eagle-Take Permit Under BGEPA

The first wind developer to apply for a take permit under the Bald and Golden Eagle Protection Act has withdrawn its application.