Saturday, May 18, 2013

Militants stop 396MW Marena project in Mexico

In a statement, Vestas said opposition groups were impeding access to the site. As a result, the project's lenders have agreed to delay forebearance agreement until 20 July, with the likelihood it could be extended further if certain milestones are hit.
Vestas has agreed to extend until 30 November. The delay does not affect its guidance for 2013...
Mitusbishi own 34% of Marena, with other investors including the Macquarie Mexican Infrastructure Fund and Dutch pension fund PGGM. In a statement, Macquarie said there was a chance the project could be axed if the issue is not resolved.
...Opposition to the project first came to light last year when members of the local indigenous Huave community forced the mayor to destroy a building permit he had signed with developer Marena.
At the same time, a Huave Indian group in the neighbouring town of San Mateo del Mar issued a statement saying it will "take up arms" if the project goes ahead as planned.
The entire article can be read at Windpower Monthly
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