Solar park in Mexico. Author: Presidencia de la República Mexicana. License: Creative Commons, Attribution 2.0 Generic.
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.