InterGen announced today its decision to advance the sale of its business interests in Mexico. A formal sales process will be launched shortly.
InterGen is one of the largest independent power producers in Mexico with more than 2,200 megawatts in operation with six combined cycle gas turbine plants throughout the country.
The portfolio includes a new 220 MW combined cycle plant in San Luis de la Paz, Guanajuato, an approximately US$ 217 million project which began commercial operations in August, 2015.
Another asset for sale is a 155 MW wind farm InterGen built along with partner IEnova. Energia Sierra Juarez, located in Tecate, Baja California, is a US$ 300 million project consisting of 47 Vestas turbines of 3.3 MW each that reached commercial operations in 2015. InterGen owns 50% of this facility.
InterGen also owns and operates three compression stations and one 65-km gas pipeline in Mexico.
For more than 20 years, InterGen has been investor and operator in Mexico helping to meet the growing energy needs in the country through clean and advanced technology and processes.
Bank of America Merrill Lynch and Barclays have been retained as joint financial advisors to oversee the process.