Infraestructura Energetica Nova SAB, the majority-owned Mexican unit of U.S. utility Sempra Energy (NYSE: SRE), agreed to sell half of a wind project in the Latin American nation to closely held InterGen NV.
The sale of a 50 percent stake in the 155-megawatt Energia Sierra Juarez project in Tecate, Baja California, from IEnova is subject to regulatory approval, InterGen said Monday in a statement. It is the first cross-border wind-generation project between Mexico and the U.S.
Terms weren’t disclosed. Leah Mix, a spokeswoman for Burlington, Mass.-based InterGen, didn’t immediately return phone messages seeking additional comment.
The $300 million first phase of the wind project will use 47 3.3-megawatt turbines produced by Vestas Wind Systems A/S (VWS) and is expected to start in the first half of 2015, according to the statement. Sempra’s San Diego Gas & Electric Co. has agreed to buy the electricity under a 20-year agreement.