The financing, totaling MXN $8.8856m is being provided by a syndicate of commercial banks, including Banorte, BBVA Bancomer, Credit Agricole Corporate and Investment Bank, HSBC and Santander.
Development banks that have also offered the loan include the Inter-American Development Bank, Banco Nacional de Obras y Servicios Públicos and Nacional Financiera .
The Danish export credit agency, Eksport Kredit Fonden, will guarantee a portion of the construction term loan.
Denmark’s Vestas Wind Systems subsidiary Vestas WTG Mexico will undertake the engineering, procurement, construction and commissioning of the project, including the supply of 132 units of v90-3.0 MW turbines and a ten-year service and maintenance agreement.
Subsidiaries of FEMSA and Cuauhtémoc Moctezuma, an operating company of Heineken, will purchase the generation of the project under 20-year power purchase agreements.
In March 2011, MMIF acquired a 32.5% stake in the project, which is expected to begin construction in March 2012.
