Builder obtains US$910 million credit for Mexico’s 750-MW La Yesca

Mexico’s largest construction company, Ingenieros Civiles Asociados (ICA), closed financing April 7 of a US$910 million long-term credit to build the 750-MW La Yesca hydroelectric project on Mexico’s Santiago River.

ICA said the syndicated loan, led by WestLB New York Branch, is due in 2012, coinciding with completion of construction in Jalisco State, near the border of Nayarit State.

“This financing is the greatest that has been obtained in Mexico for a project of this type and guarantees the resources necessary to continue with its execution, which will allow it to conclude on time,” ICA’s director of administration and finance, Alonso Quintana Kawage, said.

Mexico’s Comision Federal de Electricidad awarded a contract to build La Yesca in September 2007 to a consortium led by ICA. The consortium also includes Promotora e Inversora Adisa, La Peninsular Compania Constructora, and Constructora de Proyectos Hidroelectricos.

Mexico President Felipe Calderon Hinojosa launched construction of La Yesca in January ceremonies. (HNN 1/24/08)

The 205-meter-tall concrete-faced rockfill dam will be the tallest of its type in Mexico and one of the three tallest in the world. In addition to the dam, La Yesca includes a reservoir of 2.39 billion cubic meters, six radial gates, and an underground powerhouse.

Russian equipment supplier Power Machines won a contract to supply turbine-generators and other equipment. The company is to deliver two 375-MW hydropower turbines and other hydro-mechanical and electrical equipment. It is to manufacture, deliver, and install the equipment from 2008-2012.

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