TOKYO & MEXICO CITY--(BUSINESS WIRE)--Mitsui & Co., Ltd. (Mitsui) has agreed with EDF EN Mexico S. de R.L. de C.V. (EDF EN Mexico), a subsidiary of EDF Energies Nouvelles, S.A. (EDF EN), to participate in the 164 MW Bii Stinu Wind Project, located in Oaxaca, Mexico. Mitsui, through MIT Renewables Mexico, S.A.P.I. de C.V. (MITRE Mexico), its newly established subsidiary, will acquire 50% ownership in the common stock of Eoliatec del Istmo, S.A.P.I. de C.V., who owns the Bii Stinu Wind Project. The total project cost amounts to approximately MXN5.1 billion (approximately JPY35 billion).
EDF EN Mexico completed the development activities for Bii Stinu, and closed on the financing arrangements. The project, now in an advanced stage of construction, is scheduled to start commercial operation in June 2013. Power generated from the project will be delivered to various entities of five major private-sector corporations, based on power purchase agreements for 15 years.
EDF EN Group’s portfolio of renewable energy assets includes 4,200 MW* throughout 16 countries in Europe and North America. Its operation and maintenance services subsidiary extends its activities to more than 7,600 MW of renewable power assets globally. EDF EN Mexico currently owns a 67.5 MW wind farm in operation and a total of 460 MW under construction and development in Oaxaca.
Mitsui is the No. 2 IPP (Independent Power Producer) in Mexico, participating in 2,922 MW of gross generation capacity, including this project and six other gas-fired power plants in the country. With the participation in this project, Mitsui now holds approximately 5,916 MW worldwide, on an installed net generating capacity basis, including projects under construction, out of which 439 MW comes from renewable energy, accounting for approximately 7% of the above generating capacity.
In addition to power generation, Mitsui has presence in the operation of gas-pipeline project, effluent treatment service for PEMEX, sewage treatment service for the municipality, local gas distribution business, and LNG receiving terminal business. Through such various business activities, Mitsui has been accumulating its local expertise and expanding its infrastructure business in Mexico. Together with its knowledge about renewable energies carried out globally, Mitsui aims to hold a diversified power generation portfolio with a balanced fuel-mix, and to reduce carbon exposure with utilization of clean energy.
Bii Stinu Wind Power Project Overview:
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1) Project Company |
Eoliatec del Istmo, S.A.P.I. de C.V. |
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2) Ownership |
EDF EN Mexico 50% |
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MITRE Mexico 50% |
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3) Location |
Oaxaca, Mexico |
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4) Capacity |
164 MW (Gamesa Wind Turbine 2 MW x 82) |
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5) Project Cost |
MXN5.1 billion (approximately JPY35 billion) |
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6) Commercial Operation |
June, 2013 (Scheduled) |
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7) Off-takers |
Arcelor Mittal Steel Lazaro Cardenas (subsidiary of world's leading integrated mining and steel company), Walmart Mexico (subsidiary of world`s leading retailer), Grupo Modelo (in the process of being fully acquired by the world`s leading brewer, AB InBev), Grupo Herdez (leader of Mexican food processing industry), Continental Automotive Guadalajara (subsidiary of leading automotive parts manufacturer) |
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*Installed capacity as of 30 June 2012
ABOUT EDF ENERGIES NOUVELLES
Operating in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production, with a portfolio of 4,200 MW of gross installed capacity. With a development focused on wind and solar photovoltaic energy, the Company recently entered new promising markets: Israel, Morocco, South Africa and Poland, and is expanding its business in offshore wind energy. The Company is also present in other segments of the renewable energy market: marine energy, biogas, biomass and small hydro as well as in distributed energies. EDF EN manages renewable energy projects’ development, financing, construction as well as operation and maintenance for its own accord and for third parties. EDF Energies Nouvelles is a subsidiary of the EDF Group and its renewable energy arm.
For more information, please visit: www.edf-energies-nouvelles.com.
ABOUT MITSUI
Mitsui is one of the most diversified and comprehensive trading, investment and service enterprises in the world, with 152 offices in 67 countries as of December 2012. Utilizing global operating locations, network and information resources, Mitsui is multilaterally pursuing business that ranges from product sales, worldwide logistics and financing to the development of major international infrastructure and other projects in the following fields: iron and steel products, mineral and metal resources, infrastructure projects, motor vehicles, marine and aerospace, chemicals, energy, food resources, food products and services, consumer services, IT, finance and new business, and transportation logistics. Mitsui is actively taking on challenges for global business innovation around the world. http://www.mitsui.com/jp/en/index.html