Sempra subsidiary Infraestructura Energética Nova has closed a $270m long-term finance deal to build the first phase of the 155MW Energía Sierra Juárez wind farm in Mexico.
The package includes credit notes to capitalise both the wind farm in Baja California and transmission infrastructure to run the power north into the United States.
The funds from a group of financiers led by Mizuho Bank will run for 18 years. North American Development Bank provided “technical structure” to loans from four international organisations.
The wind farm’s 47 Vestas 3.3MW wind turbines will enter operation in the first half of 2015 and sell power to California utility San Diego Gas & Electric through a 20-year contract.
IEnova recently agreed to sell 50% of the project to InterGen, subject to regulatory approvals in Mexico and the US.