Inter-American Development Bank Approves $50M Loan for 250 MW Mexico Wind Farm
The Inter-American Development Bank (I.D.B.) has approved a $50 million loan to support the construction of what is expected to be Latin America’s largest wind farm.
The 250.5-megawatt, $600 million Eurus wind project, which is being developed by the Spanish company Acciona, is located on 119 acres (48.15 hectares) in the state of Oaxaca in Mexico.
Other multilateral lenders are expected to provide the balance of the funding. Acciona plans to sell the farm’s total output to cement maker Cemex under a 20-year power purchase agreement.
The wind farm is already operating with half of the farm’s 167 wind turbines currently producing electricity.
Separately, the I.D.B. also said it would back construction of a $190 million loan of the La Ventosa wind farm, also located in Oaxaca, which is being developed by EDF Energies Nouvelles, the French power company.
Once operational the plant will sell its output under a 15-year PPA to the Mexican subsidiary of Wal-Mart.
