The facility will feature combined-cycle gas turbines with a capacity of 875 MW, will be located in Jalisco and is estimated to be completed in 2019.
On June 19th a $500,000,000 financing package for the construction of the Tierra Mojada power plant, in Mexico was announced.
Letters of credit were issued by the following banks: Société Générale, Calyon, Natixis, Sumitomo Mitsui, Mizuho, and Intesa São Paulo. The majority of Tierra Mojada’s capacity will be sold for a 20-year power purchase agreement (PPA) to Comisión Federal de Electricidad Calificados, the qualified supplier of Mexico’s national utility.
Galicia Abogados assisted in the operation, that relied on the support of the following firms: Milbank, Tweed, Hadley McCloy, L.L.P. Paul Hastings, L.L.P., Ritch, Mueller, Header y Nicolau, S.C.
Moreover, the following financial institutions worked as support banks: Société Générale, Credit Agricole Corporate & Investment Bank, Natixis, New York Branch, Sumitomo Mitsui Banking Corporation, Mizuho Bank Ltd and Intesa Sanpaolo, S.p.A.