The Isthmus of Tehuantepec , one of the best wind resources in the world, will now be home to Mareña Renovables wind farm, a new wind power project that is gaining international attention.
Located in the state of Oaxaca, The Isthmus of Tehuantepec boasts a wind speed that averages 8.5 meters per second, making it a perfect candidate for a wind project of this magnitude. The 396-megawatt project is expected to begin construction in March, following a $682 million financing deal.
The project is backed by Macquarie Mexican Infrastructure Fund (MMIF), which focuses solely on investment opportunities in Mexican infrastructure projects. The Fund targets investments that include roads and rail, airports, ports and social infrastructure along with energy and utilities.
"We are pleased to have completed the financing for this Project and look forward to starting construction," said Jonathan Davis Arzac, Executive Chairman of the MMIF, which is backing the project. "This Project, which marks the first renewable energy investment in MMIF's portfolio, is expected to be the largest single-stage wind farm in Latin America when completed."
The project, with its size of scope as well as funding, promises to provide a huge boost to Mexico’s economy and energy production.