August 14, 1998
President Ernesto Zedillo today presided over the official inauguration of the 700 MW (ISO conditions) Samalayuca II power plant in a ceremony attended by senior representatives from the Mexican state utility Comisión Federal de Electricidad (CFE) and the international consortium which sponsored the project.
Mexico´s President Zedillo Inaugurates Samalayuca Ii Power Facility
The natural gas-fired combined-cycle Samalayuca II facility is the first large privately funded power plant in Mexico. Samalayuca II is the model for a new generation of privately funded power projects that will add 4000 megawatts to the grid.
The Samalayuca II consortium includes InterGen, jointly owned by Bechtel Enterprises and Shell Generating Limited; GE Power Systems and GE Capital Structured Finance Group, divisions of the General Electric Company; El Paso Energy International, a business unit of El Paso Energy Corporation; and ICA of Mexico City.
The consortium partners arranged approximately $660 million in financing, including over $440 million in non-recourse loans from four commercial banks, more than $75 million in construction loans and 10-year term financing. The U.S. Export-Import Bank provided political risk insurance.
Samalayuca II will supply power for Ciudad Juarez, a city of one million residents and more than 300 factories. The facility will supply much needed power to one of Mexico's fastest growing regions. Called one of the independent power industry's top 1997 projects by Independent Energy magazine, the Samalayuca II plant is a major addition to Mexico's independent energy business.