Chadbourne & Parke represented the North American Development Bank (NADB) and Banco Mercantil del Norte (Banorte) on a US $130 million project in which Compañía Eólica de Tamaulipas, S.A. de C.V. (CETSA) will construct a 54MW wind farm in Reynosa, Tamaulipas.
As part of the deal, Swiss investor Grupo ECOS acquired an equity interest in CETSA.
The wind farm will be comprised by 30 wind turbines which will be provided by the Danish company Vestas. Mexican retailer Organización Soriana has entered into a long-term power purchase agreement with CETSA and will use the energy generated by the wind farm to supply electricity to 163 of its stores.
The Chadbourne team on the deal included New York partner Todd Alexander and Mexico City partner Alejandro Landa and associates Raquel Bierzwinsky, Shellka Arora and Carla García.
“NADB, Banorte and the sponsors have demonstrated that the potential for wind power in Mexico reaches well beyond Oaxaca. This is the first of what will be many wind farms in Northern Mexico,” said Chadbourne partner Todd Alexander.
“We are pleased to have assisted the lenders on such an important project,” added Chadbourne partner Alejandro Landa.
The project is the first wind energy project in Mexico funded by NADB.
