June 1 (Renewables Now) - Danish turbine maker Vestas Wind Systems A/S (CPH:VWS) today announced the order for the 306-MW Mesa la Paz wind park in Mexico, which is backed by a corporate power purchase agreement (PPA).
The order has been placed by EnerAB, a joint venture between AES Corp (NYSE:AES) and Grupo BAL, and will see Vestas supply and install 85 units of its V136-3.45 MW turbine, delivered in 3.6 MW power optimised mode, at the wind park in the state of Tamaulipas. The contract also includes a 15-year Active Output Management 5000 (AOM 5000) service agreement. The turbines are expected to be delivered and commissioned during 2019.
The deal brings Vestas' order intake in Mexico to more than 2.1 GW.
EnerAB chief executive Juan Ignacio Rubiolo said that the 25-year PPA for the Mesa La Paz wind facility recently won by the company is "the first renewable PPA above 300 MW in Mexico financed entirely through a US-held private company."
Vestas cited estimates by Bloomberg New Energy Finance according to which corporate PPAs in Mexico totalled 5.4 GW in 2017 and the number is expected to increase in 2018.
Recently, a USD-303-million (EUR 259m) green bond for the 306-MW wind farm received an S&P Global Ratings Green Evaluation of E1/91. The project's PPA is with Fuentes de Energia Penoles SA de CV, part of metals producer Industrias Penoles SA de CV. During the first seven years it covers 80% of the wind farm's output, while the rest will be sold on the spot market, according to Standard & Poor's S&P Global Ratings service.
(USD 1 = EUR 0.856)