InterGen closes buy of 50% of 155-MW Mexican wind project
Jul 17, 2014 - US power producer InterGen said yesterday it had wrapped up the acquisition of a 50% stake in a 155-MW wind project in Mexico from local energy firm Infraestructura Energetica Nova (MXK:IENOVA), or IEnova.
The acquisition was agreed in April and was pending regulatory clearance in Mexico and the US. The value of the transaction was not disclosed. Last month, IEnova, run by Sempra Energy (NYSE:SRE) of the US, secured USD 270 million (EUR 199.6m) in financing for the scheme.
The proposed 155-MW wind power facility is the first phase of the Energia Sierra Juarez wind complex in the municipality of Tecate, Baja California state. The park, worth USD 300 million, will use 47 turbines of 3.3 MW each made by Danish firm Vestas Wind Systems A/S (CPH:VWS). The machines are to be switched on in the first half of 2015, with their output planned to be sold to utility San Diego Gas & Electric (SDG&E) under a 20-year power purchase agreement (PPA).
InterGen operates 7,686 MW of power capacity in the UK, the Netherlands, Mexico and Australia. The company is 50%-owned by the Ontario Teachers’ Pension Plan, while the remaining interest is held by China Huaneng Group and Guangdong Yudean Group.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.