Two Mexican wind farms financed with North American Development Bank help

Mexican retailer Organización Soriana, along with the Mexican company GEMEX, announced June 5 the construction of two wind farms in Güemez, Tamaulipas, representing a total investment of more than $130 million per project.

The wind farms will be financed with loan funds from the North American Development Bank (NADB) and Mexican commercial bank BANORTE, as well as equity investments from GEMEX.

The La Mesa Wind Farm will be developed on 1,366 acres, while the Victoria Wind Farm will be built on approximately 1,730 acres. Each project consists of 15 wind turbines with a total installed capacity of 49.5 MW and is expected to produce an estimated 181 gigawatt-hours/year of electricity. This power will be consumed by Soriana for 20 years as part of an agreement to supply sustainable energy to 311 of its stores. The electricity from these two wind farms is equivalent to 14% of the electricity currently produced in the state of Tamaulipas.

“As established in our Sustainability Policy launched in 2012, building the two wind farms is bringing us closer to our goal of supplying our stores with 100% renewable energy,” stated Rodrigo Benet Córdova, Director of Strategic Planning and Communication for Soriana. “Once the two wind farms are in operation, we will be supplying renewable energy to 506 stores, thus helping to reduce carbon dioxide emissions and continue promoting environmental protection.”

NADB Managing Director Gerónimo Gutiérrez said: “NADB continues to promote clean and renewable energy projects in Tamaulipas, as well as throughout the U.S.-Mexico border region. These projects are a great example of collaboration among private industry, the commercial banking sector (BANORTE) and development institutions (NADB) to foster the growth of clean and renewable energy in Mexico, which will significantly contribute to meeting the goals of the federal government regarding clean energy generation and the reduction of greenhouse gases. We applaud Soriana’s strong commitment to energy sustainability.”

About Barry Cassell 20414 Articles
Barry Cassell is Chief Analyst for GenerationHub covering coal and emission controls issues, projects and policy. He has covered the coal and power generation industry for more than 24 years, beginning in November 2011 at GenerationHub and prior to that as editor of SNL Energy’s Coal Report. He was formerly with Coal Outlook for 15 years as the publication’s editor and contributing writer, and prior to that he was editor of Coal & Synfuels Technology and associate editor of The Energy Report. He has a bachelor’s degree from Central Michigan University.