Electric Power - Mexico - Soriana closes financing on 54MW El Porvenir wind farm

By Business News Americas staff reporters

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Mexican retailer Soriana has secured a US$51mn loan for construction of the 54MW El Porvenir wind farm in the municipality of Reynosa in Tamaulipas state from Mexican financial group Banorte and the North American Development Bank (NADB), the former said in a statement.

Soriana, Mexican homebuilder Gemex and Swiss investor group Grupo Ecos are developing the project through the newly formed Compa??a E?lica de Tamaulipas (Cetsa). Construction is scheduled to begin in the first quarter with total project cost estimated at US$130mn.

Soriana will purchase the energy generated by the farm under a long-term PPA to power 163 stores.

The project was recently registered as a CDM under the UN Framework Convention on Climate Change and will offset approximately 88,000t/y of CO2, according to the CDM document.

Vestas landed the turbine contract for the project which includes delivery, transport, installation and commissioning of 30, V100-1.8MW turbines as well as 15 years of service.

This is the first wind farm in Mexico to be financed by the NADB and is the first in Tamaulipas state.

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Source: http://feedproxy.google.com/~r/BusinessNewsAmericas-TopStoriesEN/~3/gelXQGHI9g0/soriana-closes-financing-on-54mw-el-porvenir-wind-farm

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