Financial close achieved for 420 MWdc/750 MWh Solar & BESS facility in Mexico
Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II (GMF II), has reached final investment decision and financial close on La Esperanza Solar, a 420 MWdc solar photovoltaic project combined with a 150 MW/5-hour (750 MWh) battery energy storage system in the state of Campeche, on Mexico’s Yucatán Peninsula.
Once operational, La Esperanza Solar will strengthen the reliability, resilience, and flexibility of the electricity system in the Yucatán Peninsula, where rising electricity demand has increased the need for new power generation and storage capacity. The project's battery energy storage system, one of the largest in Mexico, will provide up to five hours of storage, enhancing grid stability and enabling the delivery of clean electricity when it is needed most. Construction is underway, with commercial operations anticipated in 2028.
The La Esperanza Solar project financing comprises approximately USD 510 million in debt facilities provided by a consortium of five international and regional commercial banks: BNP Paribas, JPMorgan Chase Bank, Natixis CIB, Santander and Scotiabank. Equity is funded by the project owners: CI Growth Markets Fund II with an expected co-investment from leading Mexican retirement fund administrator, Profuturo.
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November 19, 2019
Canadian Solar sells 49% in 370 MW solar portfolio in Mexico
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Builders selected for 296MW solar project in Mexico
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