X-ELIO closes US$44.1 million financing with IFC and Banco Sabadell for 119 MW Perote II solar PV project in Veracruz

X-ELIO has closed a US$44.1 million financing agreement with IFC (International Finance Corporation), a member of the World Bank Group, and Banco Sabadell in Mexico.

The funding obtained through this agreement will be used for the construction, operation, and management of the 119 MW Perote II solar photovoltaic plant located in the municipality of Perote, in the state of Veracruz.

The project is expected to reduce emissions equivalent to 4 million tons of carbon dioxide into the atmosphere over the next 35 years. The Perote II will provide a competitive source of energy for the country and help increase the installed capacity of non-conventional renewable energy, diversifying the country’s energy matrix and contributing to Mexico’s economic growth.