Sempra Energy unit to acquire two wind farms in Mexico from Blackstone Group

5 September 2016 (Last Updated September 5th, 2016 18:30)

Sempra Energy unit Infraestructura Energética Nova SAB (IEnova) has agreed to buy two wind farms in north-eastern Mexico from Blackstone Group and its units for $375m.

Sempra Energy unit Infraestructura Energética Nova SAB (IEnova) has agreed to buy two wind farms in north-eastern Mexico from Blackstone Group and its units for $375m.

IEnova will buy a 100% stake in the Ventika I and II wind facilities in Nuevo Leon from Blackstone Energy Partners, Fisterra Energy and other minority partners.

In addition, the Mexican unit will assume a long-term loan of $477m, taking the total value of the deal to $852m.

"This purchase is part of IEnova's strategy for short-term and medium-term growth."

Ventika I and Ventika II are located next to each other in Nuevo León.

These projects have 84 wind turbines with a total installed capacity of 252MW.

The two projects were developed by Fisterra Energy, which is owned by Blackstone-managed funds, and Mexican cement manufacturer Cemex.

Constructed by Spain-based Acciona Energía, the farms will continued to be managed by Cemex after the acquisition.

Work on these farms were completed last December and became operational in April. T

This purchase is part of IEnova's strategy for short-term and medium-term growth.

Power generated from the Ventika farms will be sold to private companies under long-term power purchase agreements.