La Venta III

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In March 2009, Iberdrola Renovables, a subsidiary of Iberdrola SA, won a concession to build and operate the 103-MW La Venta 3 wind farm in Oaxaca state. The project was to be located in the Municipality of Santa Domingo Ingenio, in the region of the Istmo de Tehuantepec, close to already existing wind farms La Ventosa and La Venta II. The contract included a 20-year Power Purchase Agreement (PPA) with CFE, Mexico's federal electricity company. The farm was to use 121 G52 wind turbines sourced from Gamesa Eolica, each measuring 44m in height and with an output of 850kw. The project will also include the construction of access roads and interconnection with the high-voltage network.It was expected to meet the energy needs of around 200,000 people, avoiding the emission of 160,000 tonnes of CO2 annually. The total project cost was US $225 million. The project reached financial closure through a loan agreement signed in May 2010, from the European Investment Bank (EIB) for EUR 78.50 million (US $112.50 million). Operations commenced in March 2012.