IDB Invest, a member of the Inter-American Development Bank (IDB) Group, has provided a US$34.9 million financing package for the construction and maintenance of a 200 MW photovoltaic solar plant, located in the city of Navojoa in the state of Sonora, in Mexico. The project is developed by the company X-Elio.
The project will displace the equivalent of 5.1 million tons of carbon dioxide in the next 25 years.
IDB Invest’s financial package consists of the combination of a US$34.9 million loan, which includes the mobilization of US$11.6 million from the Chinese Fund for the Co-financing of the Americas, plus another two additional loans, one of US$33 million from local development bank Bancomext and another of US$33 million from ING Bank, N.V.
Navojoa was awarded in the third long-term bid convened by the National Energy Control Center of Mexico (CENACE). Currently, it has signed a Power Purchase Agreement (PPA) for three products: 15 years for the sale of energy and of power generated, and 20 years for clean energy certificates.
Country updates
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June 05, 2019
Mexico inaugurates 396 MW Eolica del Sur wind park in Oaxaca
The Mexican government has inaugurated the 396 MW Energia Eolica del Sur wind park located in Oaxaca. The facility, consists of 132 turbines, was developed by Mitsubishi Mexico in coordination w...
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May 31, 2019
BlackRock completes purchase of 68 MW Aguascalientes solar project from Canadian Solar
Canadian Solar has completed the sale of its 68 MWp Aguascalientes solar project in Mexico to BlackRock Infrastructure Fund II. Canadian Solar developed, arranged construction and...
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May 17, 2019
Mexico switches on Parque Eolico Dzilam Bravo, Eolica Golfo 1 wind project
The Mexican State of Yucatan has switched on its 70 MW wind project. The US$120 million Parque Eolico Dzilam Bravo, Eolica Golfo 1 wind park is equipped of 28 2.5-MW wind turbines and...
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May 16, 2019
Northland Power Inc takes FID on 130 MW La Lucha solar project in Mexico
Northland Power Inc, a company based in Canada, has taken a Final Investment Decision on the 130 MW La Lucha solar project located in Durango state, Mexico. The company is planning to start the constr...
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May 10, 2019
First bifacial photovoltaic panel installed at 220 MW project in Mexico
The first of 550,000 bifacial panels of 220 MW Magdalena II plant have been installed. The 220 MW Magdalena II solar plant is Enel Green Power (EGP) first to be equipped with bifacial photovoltaic mo...
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