Global cement company CEMEX is participating in a Clean Energy Fund that is expected to raise $300 million through a public offer of capital development certificates in the Mexican stock exchange. The proceeds will be invested in a series of clean energy projects in Mexico. The first project will be the construction of a wind-powered park, Ventika, in the northern state of Nuevo Leon.
CEMEX’s participation in the Clean Energy Fund will be limited to management and advisory activities under the guidance of a technical committee, and the company will limit its participation to a minority equity stake not exceeding 10 percent in the sponsored projects.
As part of its responsibilities, CEMEX will provide a team of professionals with experience in energy related projects, an extensive network of contacts, assistance in negotiating and closing these type of transactions, proficiency in optimizing capital structures, and knowledge of the different stages of a project’s life cycle.
Earlier this month, CEMEX said it had commissioned a 1 MW wind turbine at its quarry located in Madison, Calif.