October 9, 2008
InterGen Acquires Two Mexican Power Generation Facilities From TransAlta
US-based power producer InterGen has acquired the 252MW Campeche facility and the 259MW Chihuahua facility, both in Mexico, from TransAlta for $303.5 million. The transaction was funded by a combination of InterGen equity and limited recourse debt.
The Campeche facility is located at Palizada in the state of Campeche in the Yucatan Peninsula; while the Chihuahua facility is located in the industrial border region of Juarez, south of the US-Mexico border.
Both combined-cycle projects began operations in 2003 and are fully contracted with 25-year power purchase agreements with the Comision Federal de Electricidad, the Mexican national utility.
With the addition of Campeche and Chihuahua, InterGen now owns and operates four facilities in Mexico, totaling 2,211MW, and is taking in nearly 80 TransAlta staff.
Neil Smith, president and CEO of InterGen, said: "We are very pleased to have completed the acquisition of these facilities. Both plants fit well with our current portfolio and their addition gives InterGen an even stronger presence as a provider of power for Mexico. We welcome the dedicated and professional TransAlta Mexico team into the InterGen family."