First Reserve Takes Stake in 130-MW Mexican Wind Farm

Private equity and infrastructure investment firm First Reserve has formed a partnership with Mexico Power Group to build the 130-megawatt La Bufa wind farm in Zacatecas, Mexico.

The project represents the third wind farm First Reserve has partnered on in Mexico and is expected to bring the firm’s total generated wind power in Mexico to over 600MW once in operation. MPG, will construct the facility in partnership with Cannon Power Group and Gamesa which is supplying the turbines.

Upon completion, La Bufa will sell its generated power under a contracted off take agreement to Volkswagen de Mexico. Financing is being provided by Sumitomo Mitsui Banking Corporation, Korean Development Bank, Nacional Financiera and Bancomext. Construction on the project has already commenced with completion currently targeted for early 2017.

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