IFC also provided interest rate and cross currency hedge arrangements into pesos. The project financing for the wind farm has a 14 year term and amounts to a total of 1,772 Million pesos (approximately 107.3 million Euros).
“La Mata La Ventosa wind farm is located in southern Mexico in the Tehuantepec Isthmus, one of the best wind resources areas, and comprises 27 Clipper wind turbines”, explained Fabienne Demol Head of New Business Development at EDF Energies Nouvelles.
“The electricity generated is entirely consumed by Walmart de México, with whom a 15-year electricity self supply agreement was signed. This wind power project demonstrates our ability to develop competitive wind energy solutions.”
Developed and built by Eléctrica del Valle de Mexico, a company wholly owned by the EDF EN group, La Mata La Ventosa wind farm was commissioned earlier in 2010.
“In addition to the top quality work delivered by our team, the signature of this financing arrangement further demonstrates the banks’ confidence in our projects. We welcome the support of our banks for this important project which creates the conditions for further cooperation”, commented Philippe Crouzat, Chief Financial Officer of EDF Energies Nouvelles.
With operations in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production. With a development focused on wind power for several years and more recently on solar photovoltaic, the Group is also present in other segments of the renewable energies market: small hydro, marine energy, biomass, biofuel and biogas. In addition, the Group is expanding in the distributed renewable energies sector.
EDF Energies Nouvelles, 50 %-owned by the EDF Group, is listed in Euronext Paris since November 2006 (code "EEN", ISIN code: FR0010400143).