Vestas Says Mexico Project Is Delayed

NAW Staff, Thursday 16 May 2013 - 12:17:01

Turbine manufacturer Vestas says the 396 MW Marena Renovables project, for which it is supplying turbines, is experiencing "construction delays."

Vestas, which is supplying 132 V90 3 MW turbines, confirmed that access to the project sites has continued "to be impacted by minority opposition groups, which have caused significant delays in the construction of the project."

The Marena Renovables project is located in the Isthmus of Tehuantepec in the southeastern region of the state of Oaxaca in southern Mexico.

Based on the delay, Marena Renovables entered into a forbearance agreement with the project lenders until July 30 and until Nov. 30 with Vestas.

Marena Renovables is owned by a consortium comprising: Macquarie Mexican Infrastructure Fund; Mitsubishi Corp., a Tokyo-based conglomerate with significant expertise in power development and generation; and PGGM, a Dutch pension fund service provider.


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