It is the first export of Clipper’s wind technology outside of the United States, the first Ex-Im Bank project financing for a wind power transaction, and the first large US wind technology sale in Latin America, Clipper says.
Electrica del Valle de Mexico (EVM), the project company, is using Clipper’s wind power equipment to build a 67.5 MW wind farm at La Ventosa-La Mata in Oaxaca, Mexico. The area has average wind speeds of 12 m/s and a total estimated wind resource of 6 GW. EVM is owned by France’s EDF Energies Nouvelle.
The wind farm is expected to become operation before the end of 2009.
Ex-Im Bank recently became the first Export Credit Agency (ECA) to adopt a comprehensive carbon policy to guide its support of United States exports in light of climate change concerns.
As part of the policy, the bank has established a new US$250m facility to finance renewable energy exports, including solar, wind and geothermal energy.
The Oaxaca project is expected to become operational in December 2009. It will deliver electrical energy under 15-year self-supply agreements to four subsidiaries of Wal-Mart de Mexico, S.A.B. de C.V.