Brussels, 05/05/2010 (Agence Europe) - On Wednesday 5 May 2010, the European Investment
Bank (EIB) decided to grant a €78.5 million loan to the Iberdrola group to finance a wind farm in south-west Mexico.
The EIB loan will help to finance the construction and commissioning of a wind farm comprising 121 turbines with a total capacity of 103 MW in Santo Domingo Ingenio, Oaxaca. The project will also include the construction of access roads and interconnection with the high-voltage network. The project is designed to cater for the rapidly growing electricity demand in Mexico, providing a renewable energy source. This is the first EIB loan in Mexico under the Sustainable Energy and Security of Supply Facility. The project meets the Facility's requirements by fostering environmental sustainability, energy security and the development of renewable energies. It will also promote economic development and bring social benefits to one of Mexico's poorest regions by creating jobs. With the cash, the EIB is also supporting investment - and the resultant technology transfer - by a major European company in the renewables sector.
The Sustainable Energy and Security of Supply Facility is a € 3 billion multi-annual credit line for financing projects in non-EU countries that contribute to ensuring a sustainable and secure
energy supply. Latin America is one of the parts of the world that can receive financing from this
credit line. (O.L. trans fl)