Ventika Wind Power Project

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Fisterra Energy (a subsidiary of the American investment firm Blackstone), the mexican company Cemex and other small investors were granted the license to build and operate two wind power facilities in the municipality of General Bravo, state of Nuevo Leon (252 MW in capacity). The private sponsors signed a 20-year contract with the spanish company Acciona for engineering and construction works, supply of the turbine generators and operation of the facility. Part of the electricity generated by the wind farm was committed to be sold to the Mexican companies FEMSA, Deacero, Tecnologico de Monterrey and Cemex; part was set to be directed to the grid. The wind farms were named Ventika I (126 MW) and Ventika II (126 MW). The sponsors created the special purpose companies Ventika I S.A. de C.V. and Ventika II S.A. de C.V. to manage the projects. Financial closure for the the US$ 650 million project was achieved in April 2014, when the NADBank approved a US$ 140 million loan to the project. Besides the NADBank, Banobras, Nafin, Bancomext and Santander contributed to a US$ 347.5 million debt package, while investors injected US$ 162.5 million in equity. Construction works began in April 2014, and operations were set to commence in 2016. In December 2016, IEnova, Sempra's subsidiary, acquired the Ventika project in a transaction worth US$ 900 million.