Oak Creek Energy Closes Sale Of Construction-Ready Phases At Tres Mesas

Posted by NAW Staff on April 16, 2015 No Comments
Categories : New & Noteworthy

Oak Creek Energy Systems has completed the sale of the first two construction-ready stages of the 148.5 MW Tres Mesas Wind Project, located in Tamaulipas, Mexico, to an affiliate of GS Infrastructure Partners (GSIP) and GBM Infraestructura (GBMI).

The equity investment by GSIP and GBMI is expected to support and complete construction of the two phases of the Tres Mesas Wind complex, representing one of the largest sustainable energy projects in Mexico.

According to Oak Creek Energy Systems, Sigma Alimentos and Walmart de Mexico have agreed to purchase an unspecified amount of power. In partnership with GSIP and GBMI, Oak Creek Energy will continue to support the projects through its construction and long-term project management contracts.

As part of the transaction, Overseas Private Investment Corp. (OPIC) and North American Development Bank (NADB) have agreed to provide senior debt financing.

According to Oak Creek Energy Systems, OPIC will fund an $81 million loan for the 62.7 MW Phase 1 through U.S. capital markets issuance of green guaranties – assets adhering to the Green Bond principles. Notably, part of the OPIC funding includes its first Mexican peso-denominated loan through certificates issued by Banco Mercantil del Norte.

NADB will provide a peso loan for Phase 2 at approximately $55 million.

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