From: "Brendan M" <[email-masked]>
To: <[email-masked]>
Cc: "Federica Tourreilles" <[email-masked]>
Date: Fri, 4 Feb 2011 19:31:38 -0500

*MEXICO *
*
*
*Soria Wind*
*$200m *
400MW wind project with Macquarie Fund.
*
*
*Los Vergeles*
*$50m with $170m in co-loans*
Sponsor(s): Proyetos Estrategicos Integrales/Grupo Soluciones en Energia
Renovables (local consultants) and RES (Renewable Energy Systems)
Greenfield: 160 MW using Siemens 2.3MW turbines (tested in simliar project
in Abilene, TX) and 80km transmission line.
Cost: US$320 million Finance structure. They are assuming debt of US$220
million and Equity of US$100 million. Have raised US$25 million in equity
amongst themselves and have expressions of interest for the remainder from 4
different equity/infra funds including Macquarie. Offtake: have outline for
12-year PPAs with 43 municipalities that would also become minor
shareholders so as to satisfy self-supply requirements. Municipality
obligations would be guaranteed by 1) earmarking of tax revenues (the State
and the Municipal Governments will place their Federal Tax Rights -
“Participaciones Federales” - as collateral in a Trust in order to guarantee
their payment obligations) and 2) a contingent guarantee from Banobras such
that if the municipalities dont pay, Banobras would pay (still being
negotiated). Rights of way already obtained, contracts signed with private
owners of all the property necessary, even for the transmission line (no
ejidos involved). They have already negotiated a contract to sell their
carbon credits to/through MGM (Morgan Stanley).

*Eoliatec del Istmo*
*$50m with $170m in co-loans*
*&*
*Eoliatec del Pacifico*
*$50m with $170m in co-loans*
Two greenfield projects totalling 324MW: Eoliatec del Istmo (164MW) and
Eoliatec del Pacifico (160MW), plus about 35km of transmission.  Both are in
same stage of development.  They are two companies but Eolia is looking to
finance them at the same time. Total cost U$$750 million. 15-year Self
Supply (full take or pay). Offtake contracts signed: 60% with Acelor-Mittal,
40% with other local players. All permits, including environmental, in place
except the one needed to start construction. The two projects are about 15km
apart, but one of them neighbors the Eurus project. Technology:  they are
talking to Gamesa, Acciona and Vestas. Project will produce .6 million tons
for CER per annum.

*DOMINICAN REPUBLIC*

*Bani Wind Project*
*$30m*
This is a $100 million 30MW wind project developped by spanish Inveravante,
also sponsor of the Pando Monte Lirio hydro plant we are financing in
Panama. Additional $40 million in B loan or other co-lender will be
necessary.

*Pecasa*
*$31m*
The project consists of the construction, operation and maintenance of a
50MW wind farm in the town of Guanillo, located in the Northern province of
Montecristi