Japanese conglomerate Mitsui, through its Mexican subsidiary MIT Renewables, will acquire a 50% stake 164MW Bii Stinu Wind Project from renewable energy developer EDF Energies Nouvelles (EDF).
The project is located in the state of Oaxaca is owned by Eoliatec del Istmo and is currently in the advance stage of construction.
Employing 82 Gamesa wind turbines, each with 2MW capacity, the project requires a total investment of MXN5.1bn ($404m).
Development work for the project and financial closures were secured by EDF with electricity generated by the facility to be delivered to five privately-owned corporate under 15-year power purchase agreements.
Arcelor Mittal Steel Lazaro Cardenas, retailer Walmart Mexico, brewer Grupo Modelo, Mexican food processing company Grupo Herdez and Continental Automotive Guadalajara are the companies to have agreed to procure power from the wind farm expected to commence operations in June 2013.
Mitsui’s Mexican operations currently span 2,922MW gross generation capacity while its global portfolio includes 7% renewable generation capacity.
