InterGen buys Mexico wind stake
US power generator InterGen has acquired a 50% stake in the initial 155MW phase of the Energia Sierra Juarez wind project in Baja California, Mexico.
Financial terms of the transaction with project developer Infraestructura Energética Nova (IEnova) were not made public. The deal is subject to regulatory approvals in both countries.
Energia Sierra Juarez is scheduled to fully enter service in the first half of 2015. It is the first cross-border wind-generation project between Mexico and the US.
Utility San Diego Gas & Electric has contracted to purchase all the electricity from the project during a 20-year period.
“InterGen is committed to growing its business in Mexico. We view IEnova as an ideal strategic partner as they bring many complementary skills in the development, construction and operation of energy infrastructure in Mexico,” says InterGen chief executive Neil H. Smith.