Norte III CCGT Power Plant

active

The project entails the development and operation of a 907-MW Norte III CCGT Power Plant located in Juarez, Chihuahua state. Abeinsa Juarez NIII, S.A. de C.V. is the project company leading the project. Initially, Abengoa was awarded the contract to develop the plant but later on the project was divested. Abengoa has entered into an agreement with a consortium to sell its interest in the project. The agreement with Macquarie and Techint Engineering & Construction is part of Abengoa’s ongoing divestment plan. Abengoa will continue to execute EPC projects including construction of the water treatment facility at the power plant. The new owners will lead remaining construction works. Electricity generated at the Norte III plant will be fed to the existing CFE grid. It will be purchased by CFE under a 25-year power capacity commitment and purchase agreement (PPA). Total investment is estimated at $868.4 million and is being funded through debt and equity in 82:18 ratio. The Project has received broad-based financing support from SMBC ($95 mn) and Natixis ($90.3 mn); Bancomext ($82 mn), Crédit Agricole ($75.6 mn), GE ($82 mn), EDC ($82 mn), Norinchukin Bank ($70 mn), KDB ($46.5 mn), KfW ($46.5 mn), and Intesa Sanpaolo ($46.5 mn). The sponsors will contribute $152 million in equity. Financial close occurred on 7th September 2017. https://ijglobal.com/data/transaction/27735/norte-iii-ccgt-power-plant-907mw-ipp https://www.power-technology.com/projects/norte-iii-combined-cycle-power-plant-chihuahua/ https://www.macquarie.com/us/about/newsroom/2017/macquarie-capital-led-consortium-acquires-norte-iii-power-plant-in-mexico