Summary of Proposed Investment
Project Number
11637
Company Name
Central Lomas de Real S.A. de C.V.
Date SPI Disclosed
Sep 26, 2002
Country
Mexico
Industry
Infrastructure
Projected Board Date
Dec 4, 2002
Status
Completed
Sector
Gas - Thermal Power Generation
Department
Regional Industry INF LAC & EUR
Environmental Category
A - Significant
Previous Events
Approved : Jun 12, 2003
Signed : Jul 23, 2003
Invested : Jun 22, 2004
Project Description
The Rio Bravo III project is the construction and operation of a natural gas-fired combined cycle power plant of 495 MW (two Westinghouse 501 F combustion turbines of 180 MW and two heat recovery steam generators and one steam turbine generator of 187 MW nominal) to be located next to the Rio Bravo II plant. Rio Bravo III has entered into a 25 year Power Purchase Agreement (PPA) to sell electricity exclusively to Comision Federal de Electricidad (CFE), Mexico''s state-owned electricity utility. Rio Bravo III will contract with third parties for the supply and transport of gas to the plant. The 15-year gas supply contract will be with a US gas company, El Paso Merchant Energy, which will be providing gas from the USA. Two new open-access gas pipelines (one of 16 km in Texas, USA owned by Tennessee Gas Pipeline and the other of 52 km in Mexico owned by Gasoducto del Rio, a separate/independent company owned by EDFI) will be built to deliver US gas to the plant. Expected commercial operation date for Rio Bravo III is April 2004.
Rio Bravo III will help provide reliable and environmentally sound additional power generation capacity to Mexico at a very competitive price. The project will help CFE meet energy demand growth which historically has been increasing at more than 2% p.a. above the annual GDP growth.
IFC''s involvement will be very critical in view of: (i) the recent slowdown in the implementation of the Mexican Independent Power Producer (IPP) program; (ii) the large amount of long-term financing that needs to be mobilized for the project in a short period of time; and (iii) the sector''s regulatory uncertainty. IFC will also ensure that the project will be developed in an environmentally sustainable manner.
Rio Bravo III will help provide reliable and environmentally sound additional power generation capacity to Mexico at a very competitive price. The project will help CFE meet energy demand growth which historically has been increasing at more than 2% p.a. above the annual GDP growth.
IFC''s involvement will be very critical in view of: (i) the recent slowdown in the implementation of the Mexican Independent Power Producer (IPP) program; (ii) the large amount of long-term financing that needs to be mobilized for the project in a short period of time; and (iii) the sector''s regulatory uncertainty. IFC will also ensure that the project will be developed in an environmentally sustainable manner.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
Mr. Bertrand ALLANIC
Tour EDF
20 Place de la Défense
92050 Paris La Défense Cedex
France
For Environmental issues :
Mr. Juan Carlos Ruiz
COMEGO
Arquimedes 199 ,PH
Mexico City DF
Mexico
Tour EDF
20 Place de la Défense
92050 Paris La Défense Cedex
France
For Environmental issues :
Mr. Juan Carlos Ruiz
COMEGO
Arquimedes 199 ,PH
Mexico City DF
Mexico