The Piedra Larga wind farm, which will be the country's largest, will be owned primarily by Iberdrola with a minority stake retained by Global Energy Services Mexico.
In addition to building the wind farm, the contract also includes the development of other infrastructures including a medium voltage grid and transformer stations.
The wind farm will be developed in two stages. 90MW will be brought online by March 2011 with the remaining capacity to be added by March 2012.
According to the latest Windpower Monthly Market Status report, in 2009 Mexico boosted its wind energy capacity by over 370% to take it to 415MW in total. Only Brazil has a larger capacity in South America with 600MW online.