Sempra subsidiary receives loan for 155 MW wind farm in Mexico

Infraestructura Energetica obtained a loan for $270 million to fund construction of a wind farm in Mexico.Infraestructura Energetica Nova (IEnova), the Mexico-based subsidiary for Sempra Energy, obtained a loan for $270 million to fund construction of a wind farm in Mexico, Businessweek reported. The project, located in Tecate, Baja California, is expected to produce 155 megawatts. The Energia Sierra Juarez project is the first of its kind bringing together the U.S. and Mexico to build the wind farm on the U.S.-Mexico border.

"This financing agreement is another key milestone in the development of the Energia Sierra Juarez project and an important component of our business model and growth strategy," said Carlos Ruiz Sacristan, chairman and chief executive officer of IEnova, according to North American Wind Power.

Financing is provided by several banks, including the North American Development Bank.

Under a 20-year purchase power agreement, San Diego Gas & Electric Co., an energy utility under Sempra, will buy the electricity generated by the Energia Sierra Juarez wind farm.

Vestas will provide 47 wind turbines capable of producing 3.3 MW each, according to North American Wind Power.

The Energia Sierra Juarez wind farm may start commercial operation in the first half of 2015.

More information on the wind power market in the U.S. can be found on PennEnergy's research area.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs