Envision Energy, one of the world’s leading smart energy providers, has acquired a 600 MW portfolio of wind projects in Mexico.
China-based Envision Energy, whose offerings include smart wind turbines, smart energy management software, and smart energy technology services — and with over 5 GW of turbines in operation — announced the acquisition of a leading stake in the 600 MW portfolio from ViveEnergia last month. ViveEnergia is one of Mexico’s leading renewable energy companies, and aims to complete and commission its first wind farm by the end of 2016.
“Mexico is one of the most promising markets in the Americas for wind power generation in the coming decade, not only a result of the energy reform but also given its untapped wind resources, viable projects and off-takers, as well as the interest of equity sponsors and lenders,” said Felix Zhang, Envision’s Executive Director.
“This investment is considered China’s largest direct investment in Mexico in the renewable energy space and will take advantage of bilateral cooperation agreements and lines of credit that are in place,” added Rafael Valdez Mingramm, Envision’s Director for Latin America & the Caribbean, during the 9th China Latin America Business Summit that took place in Guadalajara, Mexico, and ended today.
The portfolio of wind projects are not completed wind projects, and the new consortium of Envision Energy and ViveEnergia have committed to bringing the entire portfolio into a “ready to build” stage by the end of this year, and then initiate construction in the first few months of 2016.
Together, the two companies are aiming to reach a goal of 1.5 GW worth of wind projects developed and in operation before 2020.
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