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Jan. 9, 2013
TOKYO, Japan and MEXICO CITY, Mexico (January 9, 2013) : Mitsui & Co., Ltd (Mitsui) has agreed with EDF EN Mexico S. de R.L. de C.V. (EDF EN Mexico), a subsidiary of EDF Energies Nouvelles, S.A.(EDF EN) to participate in the 164 MW Bii Stinu Wind Project, located in Oaxaca, Mexico. Mitsui, through MIT Renewables Mexico, S.A.P.I. de C.V. (MITRE Mexico), its newly established subsidiary, will acquire 50 per cent ownership in the common stock of Eoliatec del Istmo, S.A.P.I. de C.V., who owns the Bii Stinu Wind Project. The total project cost amounts to approximately MXN5.1 billion (approximately JPY35 billion).
EDF EN Mexico completed the development activities for Bii Stinu, and closed on the financing arrangements. The project, now in an advanced stage of construction, is scheduled to start commercial operation in June 2013. Power generated from the project will be delivered to various entities of five major private-sector corporations, based on power purchase agreements for 15 years.
EDF EN Group's portfolio of renewable energy assets include 4,200MW* throughout 16 countries in Europe and North America. Its operation and maintenance services subsidiary extends its activities to more than 7,600MW of renewable power assets globally. EDF EN Mexico currently owns a 67.5 MW wind farm in operation and a total of 460 MW under construction and development in Oaxaca.
Mitsui is the No.2 IPP (Independent Power Producer) in Mexico, participating in 2,922MW of gross generation capacity, including this project and six other gas-fired power plants in the country. With the participation in this project, Mitsui now holds approximately 5,916MW worldwide, on an installed net generating capacity basis, including projects under construction, out of which 439MW comes from renewable energy, accounting for approximately 7% of the above generating capacity.
In addition to power generation, Mitsui has presence in the operation of gas-pipeline project, effluent treatment service for PEMEX, sewage treatment service for the municipality, local gas distribution business, and LNG receiving terminal business. Through such various business activities, Mitsui has been accumulating its local expertise and expanding its infrastructure business in Mexico. Together with its knowledge about renewable energies carried out globally, Mitsui aims to hold a diversified power generation portfolio with a balanced fuel-mix, and to reduce carbon exposure with utilization of clean energy.
*Installed capacity as of 30 June 2012
Bii Stinu Wind Power Project Overview
|1) Project Company||Eoliatec del Istmo, S.A.P.I. de C.V.|
|2) Ownership||EDF EN Mexico 50%
MITRE Mexico 50%
|3) Location||Oaxaca, Mexico|
|4) Capacity||164MW (Gamesa Wind Turbine 2MW x 82)|
|5) Project Cost||MXN5.1 billion (approximately JPY35 billion)|
|6) Commercial Operation||June, 2013 (Scheduled)|
|7) Off-takers||Arcelor Mittal Steel Lazaro Cardenas(Subsidiary of world`s leading Integrated mining and steel company),Walmart Mexico (Subsidiary of world`s leading retailer), Grupo Modelo (in the process of being fully acquired by the World`s leading brewer, AB- InBev), Grupo Herdez (Leader of Mexican food processing industry), Continental Automotive Guadalajara (Subsidiary of leading automotive parts manufacturer)|
EDF EN Overview
|Company||EDF Energies Nouvelles S.A.|
|Head Quarter||Paris, France|
|Business||Renewable Energy Generation, Operation and Maintenance|
|Foundation Date||SIIF Energies (1990) ;
EDF Energies Nouvelles (2004)
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
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The information contained in this news release is true and accurate at the time of publication; however, it may be subject to change without prior notice.