Cemex closes sale of USD-35m stake in Mexican wind complex
Wind farm in Mexico. Author: Presidencia de la República Mexicana. License: Creative Commons, Attribution 2.0 Generic.
Mexican cement producer Cemex SAB de CV (BMV:CEMEXA) said last week it has raised some USD 35 million (EUR 33.7m) from the sale of its interest in the 252-MW Ventika wind power complex.
As unveiled in September, Infraestructura Energetica Nova SA de CV (BMV:IENOVA), also known as IEnova, agreed to buy the complex from Blackstone Energy Partners and some minority stockholders, including Cemex, for USD 375 million plus the assumption of USD 477 million of long-term project financing.
The latter said on Thursday that the transaction involving its own minority stake has closed. It plans to use the proceeds mainly for debt reduction and for general corporate purposes.
The complex, considered to be Mexico’s largest, comprises the Ventika I and Ventika II wind farms in Nuevo Leon state, made up of 84 turbines in total. It initiated activities in April 2016 and is now selling its output to private companies under long-term contracts. Cemex Energia will continue to serve as the manager of the Ventika wind farms.