InterGen has signed an agreement to purchase 50 percent interest in the first phase of Energía Sierra Juarez wind power project from Infraestructura Energética Nova (IEnova).
Financial terms of the partnership agreement were not disclosed.
Located in the Municipality of Tecate, Baja California, Mexico, the first phase of Energía Sierra Juarez is an approximately USD $300 million, 155 megawatt (MW) wind generation project consisting of 47, 3.3 MW Vestas turbines.
Energía Sierra Juarez is the first cross-border wind-generation project between Mexico and the U.S.
The project is expected to come online during the first half of 2015.
Energía Sierra Juarez has also signed a 20 year power purchase agreement with San Diego Gas & Electric.
Neil H. Smith, president and CEO of InterGen, said, “InterGen is committed to growing its business in Mexico and we view IEnova as an ideal strategic partner as they bring many complementary skills in the development, construction and operation of energy infrastructure in Mexico.”
According to Carlos Ruiz Sacristán, chairman and CEO of IEnova, this transaction is a key milestone in the development of Energía Sierra Juarez and completes our original plan to include a strategic partner.