In 2016 we celebrated the first 20 years of IEnova with extraordinary achievements
We leveraged the experience and abilities of our great team to strengthen our presence in sectors where we are currently leaders. We also successfully participated for the first time in new businesses.
We invested USD$1.9 billion: a figure that represents almost one-third of the USD$7 billion we have invested over our 20-year history.
We secured partial financing of our investments by carrying out a successful equity follow-on offering for USD$1.6 billion.
In terms of our growth, in 2016 we acquired 50% of Gasoductos de Chihuahua, for USD$1.1 billion, plus existing debt. With this transaction, we obtained full ownership of six assets that we formerly operated in a joint venture with Pemex, making us the largest private natural gas transporter in Mexico.
We also strengthened our commitment to renewable energies by winning the auction to build and operate two solar parks: Rumorosa Solar, in the state of Baja California, and Tepezalá II Solar, in Aguascalientes. For the first time, we will be participants in the generation of solar energy.
Also in the renewable energies segment, we purchased the Ventika wind farm, located in the state of Nuevo León, for USD$435 million plus existing debt. With a 252 MW capacity, Ventika is currently considered to be one of the largest wind farms in Mexico and Latin America.
In addition, in a joint venture with TransCanada, we won a bid to build the Sur de Texas-Tuxpan marine pipeline, one of the most important energy infrastructure projects awarded in recent years in our country and the first private marine gas pipeline in Mexico.
Sustainability is at the heart of our business strategy. It includes efforts that contribute to improving the quality of life of our employees and the communities to which we belong. Further, during the construction and operation of our assets, we implement projects aimed at conserving natural resources and protecting biodiversity. With such actions, we reiterate our commitment to the UN’s Global Compact and its Sustainable Development Goals.
2016 constituted the first complete cycle of operations for Fundación IEnova. With its allocated budget of USD$500 thousand it supported 19 projects related to education, environment, vulnerable groups, and community services projects.
As a result of our actions focused on sustainability, we improved our position in the Sustainability Index of the Mexican Stock Exchange. In addition, for the third consecutive year, we obtained the Socially Responsible Company Award.
Thanks to the efforts of our entire team, we were certified for the third consecutive year as a Great Place to Work. In addition, we were ranked 50th among the best companies in terms of Diversity and Inclusion. We are convinced that it is vital for our employees to be able to work in an environment that is conducive to their personal and professional growth.
It is with great pride that we share herein our achievements for 2016. They are the result of our company´s business vision since it was founded. IEnova: A history of success.
Carlos Ruiz Sacristán
Chairman of the Board and Chief Executive Officer
Infraestructura Energética Nova, S.A.B. de C.V.