Fisterra Energy, a company majority owned by funds managed by Blackstone (NYSE:BX), and Blackstone Energy Partners, Blackstone’s energy-focused private equity business, today announced it has reached a financial closing for Ventika, Mexico’s largest onshore wind farm upon completion and one of the largest wind farms in Latin America. Ventika will be located in the northeastern Mexican state of Nuevo Leon, approximately 35 miles from the United States border, and is comprised of two 126 megawatt (MW) wind farms with total capacity of 252MW. Once completed the project will alleviate significant demands on Mexico’s existing power infrastructure, helping Mexico reduce pollution and CO2 emissions, and meet its target of achieving 35% renewable generation by 2025.
The $650 million project is being jointly developed by CEMEX, a global building materials company with presence in more than 50 countries, and Fisterra Energy. This investment funds the installation of 84 Acciona AW-3000 wind turbine generators, each with a hub height of 120 meters and a nominal output of 3MW per turbine. Construction of the project, which is scheduled to be completed in 2016, is expected to generate approximately 1,000 jobs and more than 2,000 additional jobs in related industries.
“With the development and construction of Ventika, we will be able to support Mexico in meeting its green energy targets. This project exemplifies the progress and positive impact that can be achieved when private capital works in partnership with government, entrepreneurs and industry.” said Sean Klimczak, Senior Managing Director at Blackstone. “We look forward to being active in the Mexican power generation sector as the country continues to incentivize private investment through its ongoing energy reform.”
"We are delighted to reach this important milestone and are excited to begin construction on Ventika,” said Pedro Barriuso, Fisterra's Chairman and CEO. “We thank our partners, who have shown tremendous dedication to getting this project off the ground and look forward to continuing our work with them.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV