Sierra Juarez Wind Project

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Infraestructura Energetica Nova (IEnova), a subsidiary of the American company Sempra Generation, was awarded the license to build and operate a wind facility in the La Rumorosa area, municipality of Ejido Jacume, state of Baja California. The Project was designed to have a capacity of 1,000 MW when fully operational in 2023. The Project was structured in five phases, with the first set of towers in operation in the first half of 2015 (156 MW in capacity). The sponsor created the special purpose company Energia Sierra Juarez to manage the project. The electricity generated by the power plant was set to be directed to the Mexican national grid and exported to the United States (Energia Sierra Juarez has a 20-year power purchase agreement with San Diego Gas & Electric). In April 2014, the American company Intergen Energy acquired a 50% stake in the first phase of the project development. The investment in this phase was estimated at US$ 300 million. In June 2014, IEnova announced the execution and funding of a US$ 270 million project financing, including letter of credit facilities, for the construction of the first phase of the Energia Sierra Juarez wind project. The financing package also included a US$ 39.2 million loan from the NADBank.