- Category: Onshore Wind
30 Apr 2013
- Published on Tuesday, 30 April 2013 08:23
- Hits (1804)
First Reserve and Renovalia Energy have expanded their joint venture with the acquisition of two wind power plants in Oaxaca, Mexico.
First Reserve is the largest global private equity firm exclusively focused on energy. Their joint venture with renewable energy and independent power producer Renovalia Energy is known as Renovalia Reserve.
Renovalia Reserve was formed in 2011 to own and operate a portfolio of wind farms in Europe and North America. They already own and operate six onshore wind farm projects in Spain (244 megawatts) and an additional farm in Hungary (15 MW). The two new Mexican wind farms represent their first acquisitions outside Europe.
The first 90 MW farm in Mexico has been operational since June 2012, while the second – a 137.5 MW project – is currently under construction and slated to begin operations in early 2014.
The addition of the Mexican wind farms brings Renovalia Reserve total portfolio of wind power capacity to 487 MW.
The two farms location in Oaxaca are advantageous as that region is considered a site of robust wind sources with average annual wind speeds of around 10 meters per second. The U.S. Department of Energy has rated the Oaxaca region in the highest quality category worldwide in terms of wind energy resource. – EcoSeed Staff