Sempra Energy (NYSE: SRE) today announced that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova) (BMV: IENOVA), has completed the acquisition of the Ventika I and Ventika II wind generation facilities in Mexico for approximately $900 million, including the assumption of outstanding debt.
Mexico’s antitrust commission, the Comisión Federal de Competencia Económica, approved the acquisition yesterday.
Located in the state of Nuevo León, Mexico, Ventika I and Ventika II consist of 84 operating wind turbines with an installed power generation capacity of 252 megawatts, making it the largest operating wind farm in Mexico.
Ventika, jointly developed by CEMEX, Blackstone Energy Partners and Fisterra Energy, which is majority-owned by funds managed by Blackstone, started commercial operations in April 2016. Ventika’s power generation and capacity are contracted through long-term, U.S. dollar-denominated agreements with high-credit-rating commercial and industrial customers. CEMEX will remain the manager of the project.
IEnova develops, builds and operates energy infrastructure in Mexico. As of Dec. 31, 2015, the company had invested more than US$4 billion in operating assets and projects under construction in Mexico and is one of the largest private energy companies in the country. IEnova is the first energy infrastructure company to be listed on the Mexican Stock Exchange.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2015 revenues of more than $10 billion. The Sempra Energy companies’ 17,000 employees serve more than 32 million consumers worldwide.