600 MW renewable portfolio in Mexico reaches operation

Cubico Sustainable Investments (Cubico), a global investor in renewable energy, backed by two of Canada’s largest pension funds, has announced that it has reached operations on a 600 MW renewable portfolio in Mexico.

The portfolio is comprised of the 250 MW Mezquite wind farm in Nuevo León and the 350 MWp Solem solar PV project in Aguascalientes, one of the largest of its kind to reach commercial operations in Latin America.

The energy generated by these projects is sufficient to supply more than 200,000 average households in Mexico and will contribute to avoiding more than 800,000 metric tons of CO2 equivalent emissions per year.

Osvaldo Rancé, Head of Mexico at Cubico, said: “These projects are honouring all their obligations under the power purchase agreements (PPAs) awarded in Mexico’s second long-term electricity auction in September 2016. The bulk of the energy, clean energy certificates and capacity produced by these projects are sold at very competitive prices to the Mexican state-owned utility CFE Basic Supply, the entity responsible for energy supply to the low-income housing and agribusiness sectors.”