Clipper to supply 67MW of wind turbines for Mexican project

1 December 2009

California wind company Clipper Windpower is to supply 67MW worth of wind power to Mexico, backed by an $80.66m direct loan from the US Export-Import Bank (Ex-Im Bank). The export will be Clipper’s first sale outside the US, and the first project financing agreement for a wind power transaction.

Project company Electrica del Valle de Mexico, is using Clipper’s equipment to build a 67.5MW wind farm at La Ventosa-La Mata in Oaxaca, Mexico. The area is one of the world’s best wind resources with average wind speeds of 12 metres per second, and a total estimated wind resource of 6,000MW. EVM is owned by France’s EDF Energies Nouvelle.

The Oaxaca project is expected to become operational in December 2009 and will deliver energy to four subsidiaries of Wal-Mart de Mexico under 15-year self-supply agreements.

Ex-Im Bank recently became the first Export Credit Agency to adopt a comprehensive carbon policy to guide its support of US exports in light of climate change concerns. As part of the policy, the Bank has established a new $250m facility to finance renewable energy exports, including solar, wind and geothermal energy.

Clipper CEO Doug Pertz said, ‘Ex-Im Bank’s support is highly significant, particularly to US companies like Clipper looking to grow and compete in international markets. This transaction will provide a catalyst for future international sales which Clipper has been actively working to develop in Mexico and other countries. The ability to export turbines sets the stage for increased future jobs here in the US as we increase orders to our suppliers and ramp up our local operations.’

Clipper’s directors have said that the company may be bought out by 2010, and that they have recently initiated discussions with and received approaches from a number of parties comprising industrial multinationals and financial investors.

Copyright © 2009 NewNet

Tags: wind

This story was published on Tuesday, December 1st, 2009 at 12:45 pm and is filed under North America, deals, wind. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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