Norte III launches commercial operations
The Techint E&C-Macquarie Capital consortium has completed the construction of the combined cycle power plant, leaving it fully operational and supplying electricity to half a million homes in northern Mexico.
The Norte III combined cycle power plant, built by the Techint Engineering & Construction-Macquarie Capital consortium, has begun commercial operations, employing four gas turbines paired with four generators and two steam turbines.
Techint E&C and Macquarie Capital acquired the project in 2017 and promptly injected the critical capital and expertise required to restart the construction project after its previous owner encountered a series of technical challenges and financing issues. After a complex due diligence process followed by contract negotiations, technical organization and planning, the consortium entirely restructured the project. It secured USD 716 million in financing from 10 top-tier global lenders to complete construction and signed a series of 25-year fixed-price maintenance operations with General Electric for the plant’s operational phase.
"Our reputation is what brought us the project, and now we must honor it," said Alberto Moscosa, the Construction Manager at Norte III, back in 2017. Thirty months after assuming this commitment, Techint E&C and its partner announced the start of operations at the Norte III Combined Cycle power plant in Chihuahua, near Ciudad Juárez.
The start of commercial operations means that the plant is now able to generate 907 MW, providing electricity to over 500,000 homes and businesses throughout northern Mexico.
“We are extremely proud to be part of this success story. Thanks to the efforts made by all those involved, we have been able to restart and deliver this vital project, meeting the electricity needs of thousands of citizens and helping to boost economic growth in the region,” said Alejandro Maluf, the CEO of Techint E&C in the Northern Area.
Moscosa emphasized that: “Techint has bequeathed Ciudad Juárez a legacy of hard work, effort, dedication and perseverance, a story of commitment right through to the end. The team working at Norte III knows that the road is sometimes harder than expected, but this is what makes it all the more fulfilling. It will doubtless be a source of pride for all those of us who worked on this project to look down from a plane window as it takes off and see this vast complex, the Norte III footprint, generating power for the entire area.”
THE PROJECT IN NUMBERS
30 months for construction and commissioning
7 million labor hours worked
2,000 workers at the peak of the works
907 MW: power output
500,000 homes will receive electricity