Financing closed for 13.6 MW photovoltaic solar plant in Chihuahua

The North American Development Bank (NADB) and Buenavista Renewables (BVR) have signed a US$15.5 million loan agreement for construction of the 13.6 MW Los Santos Solar I Park located in Ahumada, Chihuahua (Mexico).

The Overseas Private Investment Corporation (OPIC) is also providing senior debt in support of the project.

The photovoltaic solar plant will supply renewable energy to the northern district of the private educational group, La Salle in Mexico, and to the German cable company, Leoni, S.A. de C.V., through a 20 year power purchase agreement (PPA).

The project will be carried out by IMASA Ingeniería y Proyectos México through an engineering, procurement and construction agreement and consists of installing more than 52,000 polycrystalline photovoltaic (PV) modules manufactured by Astronergy, on a single-axis tracking system produced by Nextracker. The project also includes Schneider Electric inverters and a Voltran-WEG transformer. BVR has contracted Unisun Energy Americas to provide project management services.

NADB Managing Director Gerónimo Gutiérrez stated:

“We are pleased to participate in the financing of this project, which is being developed in one of the sunniest zones in Mexico. Solar potential in the state of Chihuahua and throughout the rest of the border region is enormous, and it’s great to see that the private sector is increasingly interested in using green energy.”

José Ruiz, president of BVR México, commented:

“The BVR team, on behalf of its shareholders, suppliers and advisers, applauds the vision and leadership of La Salle and Leoni for taking advantage of cutting-edge mechanisms that provide financial certainty and generate environmental benefits, while tapping the vast solar resources of northern Mexico. This project will serve as a sector benchmark, offering an alternative power supply that will help increase industrial competitiveness in Mexico.”