Mexico - The I.A.D.B. guaranteed US$ 101 million in credits to partially finance wind energy developments

The new wind parks will be able to satisfy 4% of the country’s electrical demand. The two projects will add a total of 318 MW and will be located in the State of Oaxaca. I.A.D.B. indicated that the projects are part of Mexico’s strategy to diversify their energy portfolio and to reduce greenhouse gas emissions. Both projects will provide clean electricity through innovating associations between Spanish and French electric companies, Cemex, Wal-Mart, multilateral banks and rural communities.

This strategy, includes a Special Program for the better use of Renewable Energies and the Climate Change Special Program, it is hoped that both contribute to achieve the country’s goal, to reduce by 50% the level of emissions reached in 2000 for year 2050.

“These projects are the fruit of the pioneering strategy of Mexico to support the prescribed and financial conditions through which renewable energy can improve energy security and reduce greenhouse gases " , the president of the SEE said.

"They also demonstrate that even in the middle of a financial crisis, the strategic associations between governments, private companies and financial institutions can lead to investments that simultaneously promote human development and sustainable economic growth" , he added.

The Mexican Government estimates that a total of 5.000 million dollars will be invested for the construction of these new wind parks in 2012, and that the construction of these facilities will generate about 10,000 jobs in direct and indirect form and around 374 permanent jobs for operation and maintenance.

For more information please contact Deborah Wall at email address listed below.