BURLINGTON, Mass.--(BUSINESS WIRE)--InterGen announced today the closing of the transaction with Infraestructura Energética Nova, S.A.B. de C.V. “IEnova”, to purchase a 50 percent interest in its first phase of the Energía Sierra Juárez wind project.
On April 18, 2014, InterGen signed a purchase agreement with IEnova for a 50 percent partnership interest in Energía Sierra Juárez, S. de RL de CV, an IEnova subsidiary responsible for development of the first phase of the proposed wind power generation project. This transaction had been subject to obtaining the relevant regulatory approvals in Mexico and the United States.
Located in the Municipality of Tecate, Baja California, Mexico, the first phase of Energía Sierra Juárez is an approximately USD $300 million, 155 megawatt (“MW”) wind generation project consisting of 47, 3.3 MW Vestas turbines. Expected to come on-line during the first half of 2015, Energía Sierra Juárez has a 20 year power purchase agreement with San Diego Gas & Electric. Energía Sierra Juárez is the first cross-border wind-generation project between Mexico and the U.S.
InterGen is a global power generation firm with eleven power plants in operation, representing a total generation capacity of 7,686 MW (6,101 net equity MW). These power plants are located in the United Kingdom, the Netherlands, Mexico and Australia. InterGen is owned 50% by the Ontario Teachers’ Pension Plan and 50% by China Huaneng Group/Guangdong Yudean Group.
For more information on InterGen, visit www.intergen.com.