Posted by: mortgagesinmexico | March 8, 2012

Isthmus of Tehuantepec Houses Largest Wind Power Project in Latin America

A new wind power project is set to begin construction later this month on the Isthmus of Tehuantepec, which is a narrow strip of land in Mexico connecting parts of Tabasco and Chiapas to Veracruz and Oaxaca. Mareña Renovables, an internationally known wind farm project, is behind the construction, which will commence in the state of Oaxaca.

The Isthmus of Tehuantepec is said to have wind speeds of 8.5 miles per second, which means the farm project could generate 1,500 gigawatts of power per year.  The construction of this 396-megawatt project is pending the final approval of $8.9 billion Mexican pesos, or $682 million US dollars, in financing and is expected to be completed by July 2012.

Mareña Renovables is backed and developed by Macquarie Mexican Infrastructure Fund (MMIF), as well as Japan’s Mitsubishi Corporation and PGGM. MMIF aims to provide investments in Mexican infrastructure projects such as roads, rail projects, new airports and ports, as well as other construction connected to utilities and energy.  This is their first renewable energy investment.

According to Jonathan Davis Arzac, Executive Chairman of MMIF, the new wind farm project in the Isthmus of Tehuantepec will be the largest single-stage wind farm in Latin America.  Once it is completed, it will offer huge benefits to the Mexico’s economy and energy production.

Doug Jones
President & Founder
Mortgages In Mexico

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