Vestas agrees to Mareña delay

The developers of the giant 396MW Mareña Renovables project in Oaxaca, Mexico have agreed a forbearance agreement with turbine supplier Vestas and financial lenders as local political disputes continue to affect the project’s schedule.

The project is being developed Macquarie Mexican Infrastructure Fund, Mitsubishi Corporation and PGGM, a Dutch pension fund.

“Vestas can confirm that access to the project sites has continued to be impacted by minority opposition groups, which has caused significant delays in the construction of the project,” the company says in a statement.

Mareña Renovables entered into a forbearance agreement with the project lenders until 30 July 2013 – which they expect to be extended subject to certain milestones being achieved – and with Vestas until 30 November 2013, according to the statement.

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