European Investment Bank loans $100m for Mexican wind farms
The European Investment Bank (EIB) is providing a $100m loan to finance the construction of two wind farms in Mexico. The funds are being provided to the Mexican state-owned bank NAFIN, which will use them to provide finance to private sector companies developing a 200 MW wind farm in the northern state of Coahuila and a 130 MW plant in Zacatecas in the centre of the country. The deal follows the signing of a memorandum of understanding between the EIB and NAFIN in March to pursue renewable energy projects.
The European Investment Bank (EIB) is providing a USD-100-million (EUR 86m) loan to Nacional Financiera (NAFIN), a Mexican government-owned development bank, which will be used to support wind farm projects in Mexico.

The funds will be on-lent to private sector borrowers to aid the development of a 200-MW wind farm in the northern Mexican state of Coahuila and a 130-MW wind farm in the state of Zacatecas, central Mexico.

Announcing the signing of the loan last week, the EIB said that wind energy development supports Mexico's renewable energy targets and the EIB's objectives in the areas of renewable energy and energy efficiency and climate action. The agreement follows the signing of a memorandum of understanding (MoU) in March to strengthen cooperation between the institutions.

"With this financing operation, one of the first ones between EIB and Mexico's public sector, EIB and NAFIN are initiating a strategically important cooperation that will provide further support to sustainable energy solutions across the country and thereby help Mexico and the EU contribute to the fight against climate change," said EIB vice-president Roman Escolano, who was in Mexico for meetings with government officials.

(USD 1 = EUR 0.861)

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