ContourGlobal buys Alpek plants

ContourGlobal buys Alpek plants

M&A Project & Infrastructure Finance Loans Mexico

ContourGlobal said it has agreed to buy two cogeneration power plants from Mexico's Alepk for $801m. The deal includes $724m in cash and an estimated $77m in VAT, ContourGlobal said in a press release. ContourGlobal added that it expects to receive a refund for the VAT within 12 months of closing the deal. The deal is expected to close in the first half of this year. The 414 MW plant in Tamaulipas and the 104 MW plant in Veracruz come with long-term offtake agreements with the local conglomer

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