Mitsui, through MIT Renewables Mexico, S.A.P.I. de C.V. (MITRE Mexico), its newly established subsidiary, will acquire 50 percent ownership in the common stock of Eoliatec del Istmo, S.A.P.I. de C.V., who owns the Bii Stinu Wind Project.
The total project cost amounts to approximately MXN5.1 billion (approximately JPY35 billion).
EDF EN Group’s portfolio of renewable energy assets includes 4,200 MW throughout 16 countries in Europe and North America. Its operation and maintenance services subsidiary extends its activities to more than 7,600 MW of renewable power assets globally. EDF EN Mexico currently owns a 67.5 MW wind farm in operation and a total of 460 MW under construction and development in Oaxaca.
The project, now in an advanced stage of construction, is scheduled to start commercial operation in June 2013. Power generated from the project will be delivered to various entities of five major private-sector corporations, based on power purchase agreements for 15 years.
Mitsui is the No. 2 IPP (Independent Power Producer) in Mexico, participating in 2,922 MW of gross generation capacity, including this project and six other gas-fired power plants in the country. With the participation in this project, Mitsui now holds approximately 5,916 MW worldwide, on an installed net generating capacity basis, including projects under construction, out of which 439 MW comes from renewable energy, accounting for approximately 7 percent of the above generating capacity.