According to the agreement finalized with the Inter-American Development Bank (IDB), the latter will provide a loan of 988 million Mexican pesos (equivalent to approximately 76 million US dollars) for Bii Nee Stipa II wind farm.
Enel Green Power S.p.A. (“Enel Green Power”), acting through its subsidiary Impulsora Nacional de Electricidad S. de R.L. de C.V., has signed a loan agreement with the Inter-American Development Bank (IDB) for 988 million Mexican pesos, equivalent to approximately 76 million US dollars, to cover part of the investment in the Bii Nee Stipa II wind farm in Mexico.
The wind farm, which required an overall investment of around 160 million US dollars, is Enel Green Power’s first in Mexico. Located in the region of the Isthmus of Tehuantepec (Oaxaca), the wind farm has an installed capacity of 74 MW and is able to generate approximately 250 million kWh each year.
The 10-year loan will be backed by a parent company guarantee from Enel Green Power.
IDB, founded in 1959, is part of the IDB Group, along with the Inter-American Investment Corporation (IIC) and the Multilateral Investment Fund (MIF). One of its main goals is to foster growth in Latin America and the Caribbean ensuring an economic, social and institutional development which is also sustainable from an environmental point of view.
Enel Green Power is the Enel Group company fully dedicated to the development and management of renewable energy sources at the international level, with operations in Europe and the Americas. The company generated 22.5 billion kWh in 2011 from water, sun, wind and the Earth’s heat – enough to meet the energy needs of more than 8 million households and avoid the emission of over 16 million tonnes of CO2 into the atmosphere. Enel Green Power is a world leader in the sector thanks to its well-balanced generation mix, providing generation volumes well over the sector average. The Company has an installed capacity of over 7,700 MW from a mix of sources including wind, solar, hydroelectric, geothermal, and biomass. Currently, EGP has some 700 operational plants in 16 countries in Europe and the Americas.
In Latin America, Enel Green Power operates renewables plants in Mexico, Costa Rica, Guatemala, Panama, Chile and Brazil, with a total installed capacity of 901 MW. In the wind sector, as well as the three projects under construction in Brazil for a total capacity of 90 MW, the company operates 24 MW in Costa Rica and 144 MW in Mexico. Thanks to its century-long experience with geothermal energy, Enel Green Power is also developing new opportunities in this sector. In particular, in Chile the Company is conducting exploratory work at a number of concessions, with a potential capacity of more than 100 MW.