Mitsui acquires participation in Mexican wind project
Mitsui & Co., Ltd has agreed with EDF EN Mexico S. de R.L. de C.V., a subsidiary of EDF Energies Nouvelles S.A., to participate in the 160 megawatt (MW) Santo Domingo Wind Project, located in Oaxaca, Mexico.
Mitsui, through MIT Renewables Mexico, S.A.P.I. de C.V., its Mexican subsidiary, acquired 50 % ownership in the common stock of Eoliatec del Pacífico, S.A.P.I. de C.V., who owns the Project.
The total project cost is approximately MXN 5.0 billion (approximately US$383 million).
EDF EN Mexico completed the development activities and closed on the financing arrangements for the project. The project, now in an advanced stage of construction, is scheduled to start commercial operation in April, 2014. Power generated from the project will be delivered to various entities of two major private-sector corporations, based on power purchase agreements for 15 years.
The agreement follows Mitsui's acquisition in February 2013 of 50 % of the Bii Stinu (164 MW) wind project, located in the same area of Oaxaca.
EDF EN Group's portfolio of renewable energy assets includes 6,358 MW* throughout 17 countries in Europe and North America. Its operation and maintenance services subsidiary extends its activities to more than 8,000 MW of renewable power assets globally.
Mitsui is the No.2 IPP (Independent Power Producer) in Mexico, participating in six other gas-fired combined cycle power stations. The company also has presence in various infrastructure business in Mexico, including the operation of gas-pipeline, an LNG receiving terminal, local gas distribution, effluent treatment projects for refinery plants, as well as water supply and sewage treatment projects for the municipality. With its local expertise obtained through these businesses and knowledge in power projects carried out globally, Mitsui aims to strengthen the diversified power generation portfolio in the country thereby contributing to the establishment of sustained energy supply and low carbon social infrastructure in Mexico, in order to meet the expected growth of electricity demand.
Country news
-
-
January 13, 2014
OHL Mexico refinances US$1.4 billion Conmex project debt
OHL México announced in late December that today its subsidiary Concesionaria Mexiquense, S.A. de C.V. (Conmex) has completed a U.S.$1.4 billion debt refinancing. Read more -
January 24, 2014
ICA sells to CGL majority stake in two Mexican prison projects
Empresas ICA, the largest infrastructure and construction company in Mexico, and CGL, an international public facility design, management, and maintenance firm, yesterday announced the formation of a joint venture for managing and developing additional social infrastructure facilities in Mexico. Read more -
February 13, 2014
Iberdrola wins two power PPP projects in Mexico
Iberdrola has been declared the winner for two PPP power projects in Mexico during the last weeks. The company won the tender process for the development, construction, ownership, operation and maintenance of the Norte III and Baja California III combined-cycle power plants. Read more -
February 17, 2014
Mexico and China in talks to form infrastructure fund
Mexican deputy finance minister Fernando Aportela said on Tuesday during a visit to New York that Mexico and China are discussing creating a joint fund for investments in infrastructure projects in Mexico. Read more -
February 21, 2014
Partners Group invests in Mexican gas company Fermaca
Swiss investor Partners Group has bought a majority stake in Mexican gas transportation business Fermaca valued at approximately US$750 million. Read more
