Project Description
Eurus SAPI de CV (“Eurus” or the “Company”) is a special purpose vehicle incorporated in 2006 under Mexican law for the development, construction and operation of a 250.5 MW wind farm and associated transmission assets in the La Venta Ejido, Juchitán de Zaragoza Municipality of the State of Oaxaca, Mexico (the “Project”). The Project will utilize 167 1.5 MW AW70 Class I turbines manufactured by Acciona Windpower (“AWP”), and benefits from an exceptional wind resource with high average wind speeds matched by few locations in the world. Project construction is well advanced; to date, all 167 turbines had been erected, of which 110 (165 MW or 66%) have been connected to the grid and declared operational. The substation and related transmission assets are complete.
Eurus is 94% owned by Acciona Energía México S. de R.L. de CV (“AEM”), itself a wholly owned subsidiary of Acciona Energía S.A. of Spain (“AE” or the “Sponsor”). The Project is being developed under Mexico’s autoabastecimiento, or autogeneration, framework. As such, the remaining 6% shareholding in the Company is owned directly and indirectly by Cemex México SA de CV (“Cemex México”), who is supplying itself with the Project’s output pursuant to a 20-year power purchase agreement (“PPA”) with the Company. Cemex México originally initiated development of the Project for a source of clean, low cost, fixed price energy, and selected AE to take over ownership and development of the Project in 2006.