Tuxpan III and IV

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The US$615 million Tuxpan III and IV were the largest generating complexs funded by a private company in Mexico. The project, located in the city of Tuxpan (the eastern Mexican state of Veracruz), was to be built and operated by Union Fenosa. The complex had a capacity of 1,000 MW and was inagurated in 2003 by Mexican President Vincente Fox. The capacity was estimated to meet the needs of the Veracruz state. Union Fenosa completed the financing for Tuxpan in the first trimester of 2003 by signing a US$430 million credit. Power generaged by Tuxpan III and IV was sold to the Federal Electricity Commission (CFE), which was to then distribute the energy throughout Mexico. Mexico's constitution was ammended in 1992 to allow independent power producers to sell electricity by contract to the electricity commission.