Sempra’s Ienova Gets $270 Million for Cross-Border Wind Project

Infraestructura Energetica Nova SAB (IENOVA*), the Mexican unit of U.S. utility Sempra Energy (SRE), received a $270 million loan for a wind farm in Mexico.

The 155-megawatt Energia Sierra Juarez project in Tecate, Baja California, also received 455 million pesos ($35 million) for taxes, the Mexican company known as Ienova said in a statement today. The financing will be repaid over 18 years.

Energia Sierra Juarez, the first cross-border wind project between Mexico and the U.S., is expected to begin generating power in the first half of next year, the Mexico City-based company said. Sempra’s San Diego Gas & Electric Co. agreed to buy the output in a 20-year contract.

Ienova, Mexico’s only publicly traded energy company, agreed on April 21 to sell half of the $300 million project to closely held InterGen NV, pending regulatory approval.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Steven Frank, Robin Saponar

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.