Dec. 24, 2013
Mitsui & Co., Ltd ("Mitsui", Head Office: Tokyo, President &CEO: Masami Iijima) 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 160 megawatt (MW) Santo Domingo Wind Project ("the Project"), located in Oaxaca, Mexico. Mitsui, through MIT Renewables Mexico, S.A.P.I. de C.V. ("MITRE Mexico"), its Mexican subsidiary, acquired 50 percent ownership in the common stock of Eoliatec del Pacífico, S.A.P.I. de C.V., who owns the Project. The total project cost is approximately MXN 5.0 billion (approximately JPY 38 billion).
EDF EN Mexico completed the development activities and closed on the financing arrangements for the Project. The project, now in an advanced stage of construction, is scheduled to start commercial operation in April, 2014. Power generated from the project will be delivered to various entities of two major private-sector corporations, based on power purchase agreements for 15 years. The agreement follows Mitsui's acquisition in February 2013 of 50 percent of the Bii Stinu (164 MW) wind project, located in the same area of Oaxaca.
EDF EN Group's portfolio of renewable energy assets includes 6,358 MW* throughout 17 countries in Europe and North America. Its operation and maintenance services subsidiary extends its activities to more than 8,000 MW of renewable power assets globally.
Mitsui is the No.2 IPP (Independent Power Producer) in Mexico, participating in six other gas-fired combined cycle power stations. The company also has presence in various infrastructure business in Mexico, including the operation of gas-pipeline, an LNG receiving terminal, local gas distribution, effluent treatment projects for refinery plants, as well as water supply and sewage treatment projects for the municipality. With its local expertise obtained through these businesses and knowledge in power projects carried out globally, Mitsui aims to strengthen the diversified power generation portfolio in the country thereby contributing to the establishment of sustained energy supply and low carbon social infrastructure in Mexico, in order to meet the expected growth of electricity demand.
* Installed capacity as of 30 June 2013
|1) Project Company||Eoliatec del Pacífico, S.A.P.I. de C.V.|
|2) Ownership||EDF EN Mexico 50%
MITRE Mexico 50%
|3) Location||Oaxaca, Mexico|
|4) Capacity||160MW (Gamesa Wind Turbine 2MW x 80)|
|5) Project Cost||MXN5.0 billion (approximately JPY38 billion)|
|6) Commercial Operation||April, 2014 (Scheduled)|
|7) Off-takers||Arcelor Mittal Lazaro Cardenas (Subsidiary of world`s leading Integrated mining and steel company), Walmart Mexico (Subsidiary of world`s leading retailer),|
EDF EN Overview
|Company||EDF Energies Nouvelles S.A.|
|Head Quarter||Paris, France|
|Business||Renewable Energy Power 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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Mitsui & Co., Ltd.
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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.