Mexico

Mexico

Vestas in-line for 443MW deal in Mexico - updated

MEXICO: Danish manufacturer Vestas has announced a conditional agreement with Zuma Energy to supply turbines to a project in north-east Mexico.

Vestas is set to supply its V136 turbine to the 443MW Reynosa III project in Mexico
Vestas is set to supply its V136 turbine to the 443MW Reynosa III project in Mexico

The developer, a joint venture between investment firm Actis (80% ownership) and Mesoamerica Investment (20%), won two contracts totalling 725MW, in Mexico's September 2016 renewable energy auction.

It has now arranged $600 million in financing for its 443MW Reynosa III site in Tamaulipas, according to the Financial Times.

Vestas said it plans to deliver its V136-3.45MW turbine to the site, once an order becomes "firm and unconditional".

The deal is set to include a 15-year servicing agreement, Vestas said.

It follows the announcement by Mexico's energy mininstry on the completion of financing for 964MW of wind and solar capacity by the country's state-owned development banks. They are the first projects to complete funding arrangement since the auction in 2016. 

According to S&P Global, Cubico Sustainable Investments and GE Financial Serivces have also secured $240 million in laonds for its 250MW El Mezquite wind project, in northern Mexico. 

UPDATE 16 August: Vestas confirmed an unconditional order for the project on 15 August, with a total output of 424MW, as opposed to the originally planned 443MW. Installation of the 123 V136-3.45MW turbines is due to be completed in 2018. 

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