Envision enters Mexico wind pact

Banco Interacciones and China’s Envision Energy have signed a memorandum of understanding to identify and develop wind energy projects in Mexico.

Shanghai-based Envision will contribute “cutting edge” technologies and expertise in developing and operating renewable energy projects, according to a joint statement.

The bank will use its experience and knowledge in the domestic market to select potential projects and investment opportunities, as well as provide financial structuring and coordinate institutional and government relations.

The statement says that the “strategic alliance” is part of a political decision by both nations to strengthen commercial and diplomatic relations.

“Latin America and Mexico in particular, are positioned as the premier emerging market for renewable energy, specifically wind power generation. This strategic cooperation will allow us to provide state-of-the-art technology together with structured financing to our clients,” says Envision Energy Executive Director Felix Xuyu Zhang.

While the MOU does not mention potential wind turbine supply, Envision sees Mexico as offering solid sales potential. The Chinese vendor, now in fourth place in its domestic market, expects to ship between 2GW and 2.5GW of turbines in 2014.

Its main competition will come from global turbine manufacturers with US factories.