North American Windpower: Mitsui To Acquire 50% Stake In 164 MW Mexican Wind Project

Mitsui To Acquire 50% Stake In 164 MW Mexican Wind Project

in News Departments > Projects & Contracts

by NAW Staff on Wednesday 09 January 2013

Japan-based Mitsui & Co. Ltd., through its newly established subsidiary, MIT Renewables Mexico, has reached an agreement with EDF EN Mexico, a subsidiary of EDF Energies Nouvelles, to acquire a 50% stake in the common stock of Eoliatec del Istmo, which owns the 164 MW Bii Stinu Wind Project.

The total cost of the project, located in Oaxaca, Mexico, amounts to approximately 5.1 billion Mexican pesos ($400 million).

EDF EN Mexico completed the development activities for Bii Stinu and closed on the financing arrangements. The project, which is now in an advanced stage of construction, is scheduled to start commercial operation in June. Power generated from the project will be delivered to various entities of five major private-sector corporations, based on 15-year power purchase agreements.

Mitsui is the No. 2 independent power producer in Mexico, participating in 2.922 GW of gross generation capacity, including this project and six other gas-fired power plants in the country.

Latest Top Stories

Study: How Northwest Wind Can Play With Energy Storage And Provide Operational Flexibility

Researchers have identified two possible sites in eastern Washington to build compressed-air energy-storage facilities that could temporarily store the Northwest’s abundant wind resources.

Wind Consortium Deploys Nacelle-Mounted LIDAR At Offshore Site In Irish Sea

In an important development for performance verification for offshore wind sites, a group of companies have deployed a nacelle-mounted LIDAR at DONG Energy's 367 MW Walney Wind Farm.

As U.S. DOJ Investigates, Duke Works Adaptive Management Plan

With previous golden eagle fatalities reported at two company-owned wind farms in Wyoming, Duke Energy Renewables is going to great lengths to protect raptors.

DOE To Recast Landmark 20% Wind Energy Report; Study Looks Back, Ahead

The U.S. Department of Energy will update its 20% Wind Energy By 2030 report, which indicated increased levels of wind penetration for the U.S. is not only possible but feasible.

Wind Energy Procurement Top Of Mind For Big-Name Companies

With greater frequency, top-tier companies are discovering the economic and environmental power of wind energy and upping their investments in the resource.