NADB loan for 54MW of Mexican wind

A Mexican consortium says it has reached financial close on a 54MW wind project in the country following a loan from the North American Development Bank (NADB).

The Ejido El Porvenir wind farm in the state of Tamaulipas will be equipped with 30 1.8MW Vestas wind turbines. The Danish manufacturer announced the order just before Christmas, without giving further details.

The NADB is lending $51m to the project – its first loan for wind in Mexico – and joins Mexican commercial bank BANORTE in financing the development.

The project’s developer is CETSA, a consortium of Mexican retailer Organización Soriana, soft drinks group Gemex and Swiss investment group Grupo Ecos.

Power produced by the wind farm will be bought by Organización Soriana under a long-term supply agreement.

Construction work at the wind farm is due to begin in the first quarter of this year.

NADB managing director Gerónimo Gutiérrez, says: “It’s an example of the joint efforts of the public and private sectors to implement clean energy projects, and supports the efforts of the state of Tamaulipas and the Mexican government to combat climate change.”