IENova to buy Ventika wind farm

Infraestructura Energétia Nova (IENova) signed an agreement on Monday with the Blackstone Energy Group to buy Ventika I and II wind parks, which are operated by Cemex.

The acquisition carries a value of US$852m. This includes a purchase price of US$375m plus an additional US$477m in funding.

Ventika consists of 84 wind turbines with an installed capacity of 252MW and is the largest wind farm in Mexico. “The parks are adjacent to each other, they are located in the municipality of General Bravo, in the Nuevo Leon state and were developed by Fisterra Energy and Cemex. Construction of the park ended in December 2015 and the facility began commercial operation in April 2016. Cemex will continue to manage the park, the company said in a statement to the Mexican Stock Exchange (BMV).

Generated power and Ventika capacity are contracted to private companies with solid credit ratings and prestige by means of long-term power purchase contracts denominated in US dollars.

The acquisition transaction is expected to close in 4Q16, subject to the required authorisations.