Macquarie Marena Wind Farm

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The Marena Wind Farm was a 396 MW WPP to be located in Oaxaca, Mexico. As of November 2011, the project was expected to consist of 132 Vestas 3 MW turbines. The sponsors of the project were two subsidiaries of Australian firm Macquarie - Macquarie Asset Finance Limited and Macquarie Mexican Infrastructure Fund - and the Mexican brewing and bottling company Fomento Economico Mexicano (FEMSA). The project was to be a 100% captive facility and would operate under the autobastecimiento model, whereby the project's output was contracted for sale to subsidiaries of FEMSA and Heineken under 20-year power purchase agreements. The total project cost was estimated as MXN 14 billion (USD 1.06 billion). In December 2011, the IADB agreed to provide loans of up to MXN 750 million (USD 72 million) to partially finance the project. In addition, 2 EIAs associated with the project were approved in 2009, with expected commissioning for 2013. Update: On February 24, 2012, Macquarie announced a project financing of the Marena wind farm with a package of loans of USD 690 million. The loan package included loans from Banorte, Credit Agricole, ISBC,SantanderBBVA, Bancomer in addition to development banks - IADB, Banco Nacional de Obras (Banobras) and Nasional Financiera. EKF agreed to guarantee a portion of the loan.