GENERAL BRAVO, N.L., Mexico--(BUSINESS WIRE)--The North American Development Bank (NADB) announces that it has begun disbursement of two loans totaling US$140 million for the construction of two wind farms, Ventika and Ventika II, with a total nominal capacity of 252 MW, sponsored by Cemex, S.A. de C.V. through its subsidiary TEG Energía, S.A. de C.V., and by Fisterra Energy, S.L.U. a private equity fund owned by the Blackstone Group. The energy produced will supply facilities belonging to FEMSA, DEACERO, Tecnológico de Monterrey and CEMEX.
The wind farms are located in the municipality of General Bravo, Nuevo Leon, approximately 100 miles east of Monterrey. Ventika will occupy 9,213 acres of land, while Ventika II will be constructed south of Ventika on 8,864 acres of land. Both wind farms have a generation capacity of 126 MW each. The projects will be executed under engineering, procurement and construction contracts with Acciona Energía.
Environmental benefits of these projects include the estimated displacement of 611,949 metric tons of carbon dioxide (CO2) per year and 1,514 metric tons of nitrogen oxides (NOx) per year. These projects complied with all the certification criteria of the Border Environmental Cooperation Commission and were approved by the NADB-BECC Board of Directors on February 19, 2014.
To date, NADB has provided US$521.0 million in loan financing for six wind projects in California, Texas, Tamaulipas and Nuevo Leon. When completed, these projects will have a total installed generation capacity of 973 MW.
The North American Development Bank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop integrated, sustainable and fiscally responsible projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States.