This project positions the companies as the country's most important investor group.
Madrid, 4 March 2014. Gamesa, a global technology leader in wind energy, has reached an agreement with Santander for the joint development of a series of wind farms in Mexico with total installed capacity of up to 500 MW.
Under the agreement, Gamesa will handle the development and construction of the wind farms along with the supply and installation of all the projects’ wind turbines (up to 500 MW), reinforcing its position as the leader in turbine manufacturer and assembly in Mexico.
The projects will be developed under the self-supply regime and under the framework of Open Season II, which is being spearheaded and coordinated by the Mexican Energy Regulatory Commission (the CRE for its acronym in Spanish) and the Federal Electricity Commission (CFE).
This agreement – to which Santander is contributing El Sauzal (200 MW)- positions both companies as the most important investor group in the Mexican wind energy sector. The projects will be developed over the course of the next three years in the state of Oaxaca, one of Mexico’s windiest regions and the area in which almost all of the wind farms in operation and the bulk of the current pipeline are located.
This agreement consolidates Gamesa’s leadership position in Mexico, where, in addition to developing and on-selling wind farms, it supplies, installs and services wind turbines. The company has installed over 1,000 MW of wind power capacity in Mexico. It also services close to 800 MW in the country under O&M agreements. In its capacity as developer, it has built 244 MW and has a pipeline of close to 550 MW.
About Gamesa (www.gamesacorp.com)
With a track record stretching back 19 years and installation of over 29,000 MW in 42 countries under its belt, Gamesa has established itself as a world technology leader in the wind power industry. Its end-to-end value chain presence encompasses wind turbine design, manufacture, installation and operations and management (19,657 MW).
Gamesa is also a global benchmark in the development, construction and sale of wind farms. To date, it has installed 6,400 MW and currently boasts a pipeline of 18,300 MW at varying stages of development in Europe, the Americas and Asia.
About Grupo Financiero Santander México, S.A.B. de C.V. (NYSE: BSMX; BMV: SANMEX)
Grupo Financiero Santander México, S.A.B. de C.V. (Santander Mexico) is one of Mexico’s leading financial groups. It provides a broad range of financial products and services, including commercial and retail banking, brokerage services, financial advisory services and other investment activities. Santander Mexico’s financial service platform is targeted at the middle and upper classes and small-and medium-sized companies. It also provides integrated financial services to the major Mexican multinationals. At year-end 2013, Santander Mexico had total assets of $821.8 billion and more than 10.5 million customers. Headquartered in Mexico City, the group operates 1,018 branches and 240 offices nationwide, employing a total of 14,169.