IADB to co-finance 396 MW wind power project in Mexico
Nov 25, 2011 - The Inter-American Development Bank (IADB) yesterday said it had approved a loan of up to MXN 1.1 billion (USD 77.5m/EUR 58.2m) to partly finance the construction of a 396 MW wind farm in Mexico.
The wind farm will be built in the La Ventosa area, in the southern Oaxaca state, and will supply subsidiaries and affiliates of Mexican beverage group Femsa (MXK:FEMSAB) and local brewer Cerveceria Cuauhtemoc Moctezuma. The supplies will help the companies cut energy costs by 10%.
The loan will be extended to Mexican firm Marena Renovables Capital, controlled by Macquarie Mexican Infrastructure Fund (MMIF) and other investors.
This will be the biggest wind farm in Mexico and one of the largest in Latin America, IADB said.
(MXN 1 = USD 0.070/EUR 0.053)
Diana Hristova is our expert for Latin America. She has spent several years following the diverse industries in the region, the energy sector most of all. Now Diana is exploring Latin America’s huge wind, solar, geothermal and hydropower potential.