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Dutch pension fund quits much-delayed 396-MW wind project in Mexico – report 

Credit:  By Tsvetomira Tsanova | SeeNews | Apr 29, 2016 | seenews.com ~~

Dutch pension fund manager PGGM is abandoning a 396-MW project in Mexico after several years of delays due to community resistance, Dutch media reported this week.

The fund is withdrawing the EUR 250 million (USD 285m) it had earmarked for the 132-turbine Eolica del Sur wind power project in Oaxaca state. This is the successor to the Marena project that attracted many community complaints and significant opposition.

Apart from PGGM, the project consortium also includes Macquarie and Mitsubishi Corporation (TYO:8058). Vestas Wind Systems A/S (CPH:VWS) has been selected as the turbine supplier. The local challenges have resulted in four years of work on the project, never reaching construction, and the Dutch fund has decided it is time to let go.

The Eolica del Sur project was given the green light in 2015, but local residents fought for their rights in court and succeeded in putting the development on hold.

Source:  By Tsvetomira Tsanova | SeeNews | Apr 29, 2016 | seenews.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

The copyright of this article resides with the author or publisher indicated. As part of its noncommercial educational effort to present the environmental, social, scientific, and economic issues of large-scale wind power development to a global audience seeking such information, National Wind Watch endeavors to observe “fair use” as provided for in section 107 of U.S. Copyright Law and similar “fair dealing” provisions of the copyright laws of other nations. Send requests to excerpt, general inquiries, and comments via e-mail.

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