BBVA finances Enel Green Power in MexicoJune 24, 2013
The 100 million USD financing package will partially cover EGP's investment plans in Mexico next year.
Through its Inelec subsidiary, Enel Green Power has drawn up a 100 million USD financing agreement with BBVA Bancomer to cover a portion of its investment package for Mexico in the years ahead.
The agreement, over 5 years with disbursement in 2013, carries interest at the market benchmark rate and will be backed up by a parent guarantee issued by Enel Green Power.
Enel Green Power currently has 197 MW of installed power capacity in Mexico, broken down into 144 MW of wind power and 53 MW of hydroelectric power.
Enel Green Power is the Enel Group subsidiary specialising in development and management of energy generation from renewable sources, a multinational operating in Europe and America. Enel Green Power leads the world market with an energy generation capacity based on water, solar power, wind power and geothermal power totalling more than 25,000 million kWh in 2012 thanks to a well-balanced combination of technologies. Production is well above the average for the sector. The company has an installed power capacity of more than 8,000 MW from a range of sources - wind power, solar power, hydroelectric, geothermal and biomass. EGP currently operates more than 700 plants in 16 countries across Europe and America.
This operation is a reproduction of the 100 million USD financing package in April 2013 for EGP Chile, thereby confirming BBVA as a strategic partner assisting the company's expansion in Latin America. This year BBVA also acted as bookrunner in a 6,000 million euro share capital increase by ENERSIS, the parent of a number of companies operating in the electricity sector in Latin America, controlled by Endesa, which in turn forms part of the Italian group Enel.