The French energy giant explains that the project finance deal is comprised of long-term debt financing from the Export-Import Bank of the United States, IFC, a member of the World Bank Group, the Inter-American Development Bank, and IFC as implementing entity of the Clean Technology Fund. IFC also provided interest-rate and cross-currency hedge arrangements into pesos. The project financing for the wind farm has a 14-year term.
“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 turbines”, explains 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 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”, concludes Philippe Crouzat, Chief Financial Officer of EDF Energies Nouvelles.
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