NMG, SEDI to build a 40 MW solar PV project in Durango

National Mechanical Group (NMG), a wholly-owned subsidiary of Sun Pacific Holding Corp, in partnership with Soluciones De Energia Diversificada Internacional, S.A.P.I. (SEDI), a unit of Blissful Holdings, LLC, has found a funding partner and received preliminary terms of up to US$80 million fund to build and develop the 40 MW solar photovoltaic project in Durango, Mexico.

NMG and SEDI will own thirty percent equity interest in the solar project.

The partners have already executed land rights and power purchase agreements, as well as selected key manufacturers. The project is set to reach financial close by 2020.