Walter Mencken 2:37 p.m., March 1
North American Development Bank to finance border projects
The North American Development Bank (NADB) announced on Thursday, November 8th, that it has approved $158 million in loans and grants for projects along the United States-Mexico border. The largest project, set at $110 million, will finance a wind energy project in Imperial County, CA.
The North American Development Bank is a financial institution based in San Antonio, TX but is governed equally by the federal governments of the U.S. and Mexico. The bank finances projects which are certified by the Border Environment Cooperation Commission.
The Imperial County project, officially named the Ocotillo Express Wind Energy Project, will develop a wind farm that will sell energy to San Diego Gas & Electric. According to MySanAntonio.com, the wind farm will consist of 112 wind turbines. Some of the turbines are already up southeast of Ocotillo, CA.
A $1.58 million dollar loan is also being given to Tijuana’s La Cuesta sewer system construction project. The San Antonio Business Journal reported that the project will give wastewater collection to over 300 homes.
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