Oak Creek Energy Systems Inc. has completed the sale of the first two stages of the 148.5-megawatt Tres Mesas project in Tamaulipas, Mexico to an affiliate of GS Infrastructure Partners and GBM Infraestructura.
Financial details were not disclosed. The equity investment by GSIP and GBMI is expected to support and complete construction of the first two phases of the project. The power will be sold to Sigma Alimentos, a subsidiary of ALFA, and Walmart de Mexico.
As part of the transaction, the Overseas Private Investment Corporation and North American Development Bank have agreed to provide senior debt financing. OPIC will fund a USD$81 million loan for the 62.7-MW Phase 1 through U.S. capital markets issuance of “green guaranties”. It will also fund up to US$105 million equivalent for the 85.8-MW Phase 2 in its first Mexican peso denominated loan. NADB will provide a peso loan to Phase 2 for approximately US$55 million.
Oak Creek Energy said it will continue to support the projects through its Mexican operating company.