Cia. Eolica de Tamaulipas SA, a renewable-energy joint venture that’s partially owned by the Mexican retailer Organizacion Soriana SAB, received a $51 million loan from the North American Development Bank for a wind farm to power 163 of its stores.
The financing was denominated in Mexican pesos and disbursed on Dec. 21, Juan Antonio Flores, a spokesman for the San Antonio, Texas-based lender, said today in a telephone interview.
The 54-megawatt wind farm, in the northeastern state of Tamaulipas, will comprise 30 turbines supplied by Vestas Wind Systems A/S and cost $130 million, he said.
Grupo Financiero Banorte SAB, a local lender, will provide a final tranche of financing for the project by March, Flores said. Construction is expected to start this quarter.
Cia. Eolica de Tamaulipas’s other owners include the Swiss investment company Grupo Ecos.