Macquarie Group Ltd announced the acquisition of a 49% stake in that Accoina SA hydroelectric project located in Mexico. The investment bank released MXN465 million or an estimated US$37 million to fund the construction. Troy Energia owns the remaining 51% interest of the 28.8 megawatt project in Nayarit, Mexico.
Mexican development bank, Nacional Financiera Banca de Desarrollo Snc, will provide MXN522 million worth of debt financing for the project. Accoina will begin construction this month with a target completion for late 2015. Sources are saying that an unidentified Mexican company signed a 15 year contract tp purchase the generated electricity from the power plant.
Macquarie Group Limited is a global investment banking and financial services group that specializes in funds management services catering to institutional, retail and corporate clients and their counterparts all across the world. Macquarie's main headquarters is located in Sydney, Australia. The company is currently the biggest investment bank and is noted as the top mergers and acquisitions adviser in Australia.
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