The Campeche facility is located at Palizada in the state of Campeche in the Yucatan Peninsula of Mexico, while the Chihuahua facility is located in the industrial border region of Juarez, south of the US-Mexico border.
Both combined-cycle projects began operations in 2003 and are fully contracted with 25-year power purchase agreements with Comision Federal de Electricidad (CFE), the Mexican national utility. The value of the transaction is $303.5 million, and will be funded by a combination of InterGen equity and non-recourse debt.
Both the facilities were bid and developed under CFE’s successful IPP program, which has awarded 22 power purchase agreements since 1997, including InterGen’s La Rosita and Bajio projects.
Neil Smith, InterGen’s president and CEO, said: We are delighted to be acquiring TransAlta’s Mexican generation portfolio, and to consequently expand our strong platform in Mexico. These facilities are a good fit with InterGen’s current portfolio.
