Central Rio Bravo

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In early November 1998, Electricite de France International beat eight competing offers to win the contract to finance, build, own and operate the US$ 234.5 million project. The 450-MW combined-cycle Rio Bravo thermoelectric plant achieved financial closure in Mar. 2000 with a financing package from the IFC (US$ 50 million direct loan; US$ 65 million in syndication). EdF will operate the plant, due to come on-line within two years, under a 25-year power purchase agreement with the national grid. Rio Bravo is in Tamaulipas state across the border from Texas. Because of persistent drought in the Rio Bravo are, the plant will use an air-cooling system that makes minimal use of water. Power plant design and construction supervision is being carried out by a local engineering firm set up for this purpose and to which EdF will provide its expertise. This project was scheduled to enter service in 2000. In December 2007 Gas Natural SDG SA acquired all of EDF's assets in Mexico for US $1.450 billion.