Mexico, USA channel USD 490m for wind, solar projects - report

Jun 4, 2014 - The US-Mexican Border Environment Cooperation Commission (BECC) and North American Development Bank (NADB) have allocated USD 490 million (EUR 360.1m) to finance 14 wind and solar power projects, Mexican news site Manufactura said on Monday, quoting a report of the two entities.

The projects, located in border states, are expected to benefit over 863,000 people in the two countries.

Among the Mexican projects are the 252-MW Ventika wind complex, developed in Nuevo Leon state with the participation of cement maker Cemex (MXK:CEMEXCPO), and the 54-MW El Porvenir wind farm, already in operation in Tamaulipas. Additionally, local firm IEnova (MXK:IENOVA), owned by Sempra Energy (NYSE:SRE), will install up to 1,200 MW in Tecate to supply wind power across the border.

In the first quarter of 2014, six solar power projects were completed without using all the contracted financing. Thus, USD 31.8 million in loan commitments was cancelled in February, according to the report.

(USD 1 = EUR 0.735)

Choose your newsletter by Renewables Now. Join for free!