CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that it has
successfully completed the financing of Ventika, a project comprising
the construction of two 126 MW wind farms each, for a total nominal
capacity of 252 MW to be located in General Bravo, Nuevo Leon, Mexico.
The investment for the project is approximately US$650 million, of which
75% correspond to debt and 25% to equity. The debt financiers are the
North American Development Bank, Banobras, Nafin, Bancomext and
Santander. The equity partners are Fisterra Energy, a company majority
owned by funds managed by Blackstone, CEMEX and private investors.
CEMEX developed the project, providing its industry-leading technical
expertise and skills in the clean energy industry. In addition, CEMEX
will supervise the construction process and, once operational, will
manage the wind farms without exercising control and owning a minority
stake of 5% of the equity, therefore, the project will not be
consolidated into CEMEX’s balance sheet and the project´s debt will have
no recourse to CEMEX.
These wind farms will supply renewable energy to facilities belonging to
FEMSA, DEACERO, Tecnológico de Monterrey and CEMEX, under the
self-supply scheme approved by the Mexican Energy Regulatory Commission.
In addition, more off-takers could be brought in the near future.
Construction will begin in the 2nd quarter of 2014 and
commercial operation is expected by the 2nd quarter of 2016.
“We are very pleased to close this important project as we have
leveraged the use of our knowledge to continue our industry-leading
expertise in the use of clean energy and alternative fuels,” said Luis
Farías, CEMEX Vice-president of Energy and Sustainability. “We will
continue to look for other potential opportunities in the sector.”
Acciona Energía was selected as the Engineering, Procurement, and
Constructor (EPC) as well as the Operation & Maintenance (O&M)
contractor. All required permits and contracts with authorities to
build, operate and commercialize the wind farms have been obtained.
Evercore was financial advisor for CEMEX, Santander was the leading
banking agent and Banamex acted as trustee.
CEMEX is a global building materials company that provides high-quality
products and reliable services to customers and communities in more than
50 countries. CEMEX has a rich history of improving the well-being of
those it serves through innovative building solutions, efficiency
advancements, and efforts to promote a sustainable future.
For more information, please visit: www.cemex.com
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This press release contains forward-looking statements and
information that are necessarily subject to risks, uncertainties, and
assumptions. Many factors could cause the actual results, performance,
or achievements of CEMEX or the project herein described to be
materially different from those expressed or implied in this release.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may vary
materially from those described herein. CEMEX assumes no obligation to
update or correct the information contained in this press release.
Copyright Business Wire 2014