Atlas Renewable Energy and el Banco de Comercio Exterior (Bancomext) have announced the signing of a long-term financing agreement for Atlas Renewable Energy’s Guajiro Solar project in Mexico, located in the state of Hidalgo.
Bancomext will provide US$88.5 million dollars to finance the construction of the project, along with a US$17 million dollars line of credit for VAT. The plant will have an installed capacity of approximately 129.5 MWp.
The project was awarded a PPA with the Federal Electricity Commission (CFE), Mexico’s federal electricity company, in the first long-term energy auction, carried out in 2016 as part of Mexico’s energy reform.
The Guajiro Solar project is expected to begin operations in the second quarter of 2019. The plant will span over 410 hectares in Nopala de Villagrán in Hidalgo. It is estimated that it will generate 300 GWh annually, equivalent to the demand of roughly 120,000 homes and the annual emission of more than 215,000 tons of carbon dioxide.
Country updates
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August 23, 2018
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JA Solar supplying modules for 404 MW solar project in Mexico's Sonoran Desert
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