Fotowatio wins 300-MW solar project in Mexico

Spanish solar developer Fotowatio Renewable Ventures (FRV) said on Thursday it has won a 300-MW project in Mexico in the country’s second electricity market auction.

The company was awarded the project at a competitive rate of USD 26.99 (EUR 24.74) per MWh, which is below the average price of USD 33.47/MWh achieved in the auction that was conducted by the National Energy Control Center (CENACE).

FRV expects to begin construction work on the project in mid-2018 and to have the plant up and running in mid-2019. It estimates that the solar park will produce enough electricity to supply some 76,100 households.

Mexico’s goal is to generate 35% of its electricity from renewable energy sources by 2024. Late last month, CENACE announced that projects worth USD 4 billion would get long-term contracts for power and/or clean energy certificates (CEL) after winning the second energy auction at competitive prices.

(USD 1.0 = EUR 0.917)

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